GMS clinches 15 years worth of charters in MENA

Gulf Marine Services has been awarded 15 years worth of contracts for three self-propelled self-elevating support vessels in the Middle East and North Africa (MENA) region with an undisclosed national oil company.

GMS on Tuesday said the new charters were for for one Small Class and two Mid-Size Class SESVs.

The charters, subject to the completion of legal documentation and finalization of the vessel delivery schedule, are expected to start in Q4 2018/Q1 2019.

The charter period for each of the three vessels is five years (including options) during which time they will be supporting well intervention and maintenance activities in the region.

Tender activity picks up

Duncan Anderson, Chief Executive Officer of GMS, said: “We are delighted to have been awarded new charters totaling 15 years (including options) by a national oil company in the MENA region.

“These contracts more than comfortably double the Group’s secured backlog and are a testament to our strong track record and excellent client relationships. We continue to be encouraged by levels of enquiries and tender activity as our clients focus on increasing their operations in a recovering market.”