Gulf Marine Services (GMS) has sealed a long-term charter for one of its large-class vessels working in European waters.
The Abu Dhabi-based offshore contractor said it has now completed the legal documentation for the employment of the ship, following a letter of intent signed in late August.
GMS’s ship will start working under its new contract in the second quarter of next year for 18 months, including options.
Duncan Anderson, chief executive of GMS, said: “This new contract is testament to our leading industry expertise and strong track record of successful operations in European waters.
“GMS is very well-positioned to capitalise on our clients’ desire for less expensive and yet more capable offshore support solutions as our self-propelled vessels are significantly more economical and time-efficient than conventional support vessels without self-propulsion.”
The company reported net earnings of $27.8m in the first half of the year, a decline of 21% compared to the same period of last year.
