Gulf Marine Services books European wind farm contracts

GMS SESV Endeavour GMS SESV Endeavour

APRIL 10, 2017 — Abu Dhabi headquartered Gulf Marine Services (LSE: GMS), a leading provider of advanced self-propelled self-elevating support vessels (SESVs), reports that it has been awarded two new long-term contracts in Europe to support wind farm projects for an international energy company.

The new contracts, scheduled to commence in second quarter 2018, are for two Large Class SESVs. One contract is for a charter period of 26 months (including options), and the other for a charter period of 15 months (including options).

In addition, a short-term contract has been secured and commenced for a Small Class vessel in the Middle East.

GMS has 15 SESVs in its fleet, categorized by size into Large Class vessels (operating in water depth of up to 80 m, with crane capacity of up to 400 tonnes and accommodations for up to 300 people), Mid-Size Class vessels (operating in water depth up to 55 m, with crane capacity of up to 150 tonnes and accommodations for up to 300 people) and Small Class vessels (operating in water depth of up to 45 m, with crane capacity of up to 45 tonnes and accommodations for up to 300 people).

"We are delighted to have secured these two long-term contracts in Europe," said CEO Duncan Anderson. "Our ability to provide cost-effective and efficient support solutions tailored to our client's requirements has been advantageous in winning this work. We are also very pleased to have been awarded a new contract supporting oil and gas-related operations for one of our clients in the Middle East.

"These three new contracts are testament to the flexibility of our modern fleet and our successful record in delivering a wide range of services for our clients in the total lifecycle of offshore oil, gas and renewable energy projects."

Want more? Subscribe now!

Join Marine Log's Email List



News from NASDAQ