GMS awarded long-term contractContracts, Tenders and Rates // January 4, 2017
Gulf Marine Services (GMS) has been awarded a long-term contract award for one of its 'Mid-Size' vessels.
The charter is for three years (including options) and is scheduled to commence early in the first quarter of 2017. The vessel will be supporting well intervention activities for a national oil company (NOC) in the MENA region.
Duncan Anderson, Chief Executive Officer of GMS, said: "As we recently reported, we are seeing an increase in tender opportunities in the Middle East and our strategy to provide flexible and cost-effective offshore support solutions has proved pivotal in winning this long-term contract.
"The new charter, which together with other recent contract wins has increased our total backlog by approximately two-thirds since 1 November 2016, demonstrates that the market is showing clear signs of recovery.
"This contract win has also further strengthened our business relationship with a strategic NOC client and improved our current geographic diversity."