Gulf Marine Services clinches new vessel contract

UAE-based liftboat operator Gulf Marine Services (GMS) has won a new contract with an engineering, procurement and construction (EPC) client in the MENA region for one of its four E-class vessels.

The contract will commence in the second quarter of 2023 and last for 22 months. 

The London-listed GMS has a fleet of 13 self-propelled self-elevating support vessels.

Financial details of the deal have not been disclosed, but the company’s executive chairman, Mansour Al Alami, said the award reflects the increasing demand for vessels and improved day rates for which “GMS remains well positioned to take advantage of going forward”.