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    GMS awarded long-term contract

    Contracts, 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."

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