GMS Wins New Contract for Its K-Class SESV

Gulf Marine Services (GMS), one of the leading providers of self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, today announced a new contract award for one of its Small Class vessels.

The vessel, a K-Class SESV, will commence the new 12-month charter (six months firm and options for up to six months) in mid-Q3 2014, with the contract towards the top end of current day rates across the Small Class vessels. The vessel will be supporting maintenance work for an international oil company in the MENA region.

Duncan Anderson, Chief Executive Officer of GMS, said:

“This new contract, which will directly follow on from completion of the vessel’s existing work with another client, is one of a number of current opportunities in the pipeline, reinforcing our view that there continues to be a very strong demand for our assets in brownfield oil and gas recovery, well services and maintenance in the MENA region.”

[mappress]
May 28, 2014