Gulf Marine Services PLC - Provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors - Announces contract extension for one small class vessel and a new contract for another small class vessel. Says that both the extension and the new contract are for vessels in the Gulf Cooperation Council. The contract extension, surpassing the initially issued duration, is for a period of an additional 176 days. The new contract is for a total duration of 210 days.
Executive Chair Mansour Al Alami says: "As we enter 2024 demand for our services in the region remains strong as reflected by these contract awards, again with overall improvement to average day rates."
Current stock price: 14.72 pence, down 1.9%
12-month change: more than doubled from 4.76p
By Holly Beveridge, Alliance News reporter
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Gulf Marine Services (GMS)