UAE-based Gulf Marine Services (GMS) has been awarded a seven-month long contract for one of its large E-Class vessels, to provide support for offshore activities on behalf of a Middle East client. The vessel will be mobilised for the start of operations during the summer of 2020.
GMS has also secured a two-month contract extension for a smaller K-Class vessel, again for a Middle East based customer. These business wins increase total GMS fleet utilisation to 82% over the course of 2020 to date. The last time the GMS fleet operated at these levels of utilisation on a calendar year basis was in 2015, the company states. A further 53% of the fleet is reported to have secure employment for 2021.
GMS says its onshore staff continue to work remotely, and no material interruptions in supply chains have been incurred. Of the two GMS vessels with reported Covid-19 cases, one has remobilised to its field already following crew testing and deep cleaning, and the other is preparing to remobilise. Tim Summers, Executive Chairman, said, “Despite challenging conditions in the upstream energy industry, the company is trading successfully. Our continued focus on cost reduction, and improving the efficiency of our operations, underpins our ability to win business and compete strongly.”
GMS, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become a leading provider of self-propelled self-elevating support vessels (SESVs), serving the oil, gas and renewable energy industries. The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years. The vessels support GMS’ clients in a broad range of offshore oil and gas platform refurbishment and maintenance activities, well intervention work and offshore wind turbine maintenance, as well as offshore oil and gas platform installation and decommissioning and offshore wind turbine installation activities.