Gulf Marine Services awarded pair of new contracts

London-listed liftboat operator Gulf Marine Services (GMS) has won two new contracts for one of its vessels in the Gulf Cooperation Council (GCC) region.

The UAE-based company with a fleet of 13 self-propelled self-elevating support vessels has fixed a small class vessel for a total duration of 272 days.

The first contract is set to start at the end of the first quarter, and the second at the beginning of the third quarter.

Mansour Al Alami, GMS’ executive chairman, said: “These awards reflect positively on the continued strength of market conditions, and we are optimistic about the prospects for the remainder of 2023, with high levels of utilisation and a tight market continuing to be reflected in the day rates achieved.”