Gulf Marine Services lands new contract, shares spark
By Abigail Townsend
Date: Tuesday 08 Apr 2025
(Sharecast News) - Shares in Gulf Marine Services sparked on Tuesday, after the London-listed firm said it had secured a new contract.
In a brief statement, the Abu Dhabi-founded business said it had secured a 142-day contract for one of its large-class vessels.
GMS provides advanced self-propelled, self-elevating support vessels to the offshore energy industry in the Middle East and Gulf Cooperation Council (GCC) maritime markets.
The latest contract, which is based in the GCC, will see the vessel continue to support "critical offshore operations in the region", GMS noted.
"The addition of this contract represents the company's fourth contract win or extension already this year, which reflects the strength of demand in the market for [our] vessels."
Mansour Al Alami, executive chair, said the contract "once again reflects the confidence our clients place in GMS to deliver reliable solutions for their projects".
As at 0915 BST, shares in the firm were up 4% at 15.76p.
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