Gulf Marine Services (GMS), a market-leading provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors, has announced that it has secured two contract extensions in the Gulf region.
The first contract award involves the extension of a large class vessel until the end of November 2023 and the second for a small class vessel until the end of March next year, said a statement from GMS.
These new contract extensions reflects the highly favourable market conditions and the quality of the company’s fleet, reaffirming the leading position of GMS in the industry and the strong demand for its vessel services.
Along with the three other contracts won during the first half, these two contract extensions again support a higher level of utilisation and day rates, stated the company.
On the contract awards, Executive Chairman Mansour Al Alami said: "It reflects continued market strength and the quality of GMS’s client offering and gives us reason for further optimism for the remainder of 2023."
GMS, he stated, remains committed to delivering an exceptional service and maintaining its position as a preferred provider of offshore vessel solutions.
Al Alami pointed out that GMS has a strong track record in delivering safe, efficient and reliable vessel services that materially contributes to the success of its client’s projects.
"This has earned us a level of trust and confidence in our capabilities that often make us the supplier of choice," he added.-TradeArabia News Service
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