Gulf Marine Services Secures 171-Day Vessel Contract Extension

An update from Gulf Marine Services ( (GB:GMS) ) is now available.

Gulf Marine Services (GMS) announced a 171-day extension to an existing contract for one of its large-class vessels operating in the GCC, bringing the company’s backlog to $483 million. This extension signifies strong market demand and confidence from partners, enhancing GMS’s industry positioning and operational stability.

More about Gulf Marine Services

Gulf Marine Services PLC, founded in Abu Dhabi in 1977 and listed on the London Stock Exchange, is a world-leading provider of advanced self-propelled, self-elevating support vessels (SESVs). The company serves the offshore energy sector from its offices in the UAE, Saudi Arabia, and Qatar, with a fleet of 13 SESVs that support activities such as offshore platform refurbishment, maintenance, installation, and decommissioning across global markets including the Middle East, South East Asia, West Africa, North America, and Europe.

YTD Price Performance: -0.66%

Average Trading Volume: 2,589,379

Technical Sentiment Consensus Rating: Hold

Current Market Cap: £160.5M

For detailed information about GMS stock, go to TipRanks’ Stock Analysis page.