Gulf Marine Services Lifts Backlog to $607m with GCC Vessel Contract Extension

Gulf Marine Services ( (GB:GMS) ) has provided an update.

Gulf Marine Services has secured a two‑year contract extension, comprising one firm year plus a one‑year option, for one of its mid‑size vessels currently operating in the GCC region, lifting its order backlog to $607 million. The award, described by Executive Chairman Mansour Al Alami as a strong endorsement of the company’s strategy, fleet performance and disciplined execution, underpins revenue visibility and reinforces GMS’s positioning in a supportive offshore energy market, bolstering its capacity to deliver sustainable value to stakeholders.

The most recent analyst rating on (GB:GMS) stock is a Buy with a £18.00 price target. To see the full list of analyst forecasts on Gulf Marine Services stock, see the GB:GMS Stock Forecast page.

Spark’s Take on GB:GMS Stock

According to Spark, TipRanks’ AI Analyst, GB:GMS is a Outperform.

Gulf Marine Services scores well due to strong financial performance and positive corporate events. The company’s undervaluation presents potential upside. Technical indicators suggest caution, but the overall outlook remains positive, driven by robust cash flow and strategic corporate actions.

To see Spark’s full report on GB:GMS stock, click here.

More about Gulf Marine Services

Gulf Marine Services, listed on the London Stock Exchange and founded in Abu Dhabi in 1977, is a world‑leading provider of advanced self‑propelled, self‑elevating support vessels (SESVs) serving the offshore energy industry. Operating a young fleet of 14 vessels from bases in the UAE, Saudi Arabia and Qatar, the company supports offshore platform refurbishment and maintenance, well intervention, and offshore wind turbine maintenance, as well as platform and wind turbine installation and decommissioning across key markets including the Middle East, Southeast Asia, West Africa, North America, the Gulf of Mexico and Europe.

Average Trading Volume: 1,533,046

Technical Sentiment Signal: Buy

Current Market Cap: £216.4M

See more insights into GMS stock on TipRanks’ Stock Analysis page.