Gulf Marine wins long-term contract in Middle East

1/3/2017

ABU DHABI -- Gulf Marine Services has secured a long-term contract for one of its mid-size class vessels.

The new charter is for three years (including options) and is scheduled to commence in early first-quarter 2017. The vessel will be supporting well intervention activities for a national oil company in the MENA region.

Duncan Anderson, CEO of GMS, said, "The new charter, which together with other recent contract wins has increased our total backlog by approximately two-thirds since Nov. 1, 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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