LONDON (Alliance News) - Gulf Marine Services PLC on Tuesday said it has signed a three-year contract for one of its mid-size class vessels.
The new charter is scheduled to begin early in the first quarter of 2017, and the vessel will be supporting well intervention activities for an unnamed national oil company in the Middle East and North African region, Gulf Marine said.
No financial details of the contract was disclosed.
"The new charter, which together with other recent contract wins has increased our total backlog by approximately two-thirds since November 1, demonstrates that the market is showing clear signs of recovery," said CEO Duncan Anderson.
"This contract win has also further strengthened our business relationship with a strategic NOC client and improved our current geographic diversity," Anderson added.
Shares in Gulf Marine Services were up 4.1% at 51.00 pence on Tuesday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Gulf Marine Services (GMS)