Gulf Marine Services scores bumper deal for two vessels

Gulf Marine Services (GMS) has won a new long-term contract at improved rates from a national oil company (NOC) in the MENA region for two of its vessels.

The UAE-based liftboat operator has fixed one of its smaller (K-class) and one of its larger (E-class) vessels for a total duration of 72 months.

The London-listed firm, with a fleet of 13 self-propelled self-elevating support vessels, said the contract will come into effect in October this year.

The news comes hot on the heels of a contract landed with an engineering, procurement and construction (EPC) client also in the MENA region for another E-class vessel. This contract will commence in the second quarter of 2023 and last for 22 months.