GMS awarded two new contracts for small offshore vessel

World Oil Staff March 29, 2023

(WO) - GMS, a supplier of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors, announced the award of two new contracts for one of its small class vessels in the GCC. The daily rates secured for these contracts reflect strong demand for the vessels. The first contract is set to commence at the end of Q1, and the second at the start of Q3, spanning a cumulative period of 272 days.

Mansour Al Alami GMS Executive Chairman said, "These awards reflect positively on the continued strength of market conditions, and we are optimistic about the prospects for the remainder of 2023, with high levels of utilization and a tight market continuing to be reflected in the day rates achieved.”

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