Gulf Marine Services secures two-year extension to existing contract
By Josh White
Date: Monday 05 Jan 2026
(Sharecast News) - Gulf Marine Services announced on Monday that it has secured a two-year extension to an existing contract for one of its mid-size support vessels operating in the Gulf Cooperation Council region, adding to a series of recent awards and extensions.
The company said the extension comprised one firm year and one optional year and related to a different vessel and a separate contract from the extension announced on 30 December.
It added that the agreement strengthened its contracted backlog.
"This contract extension strengthens our backlog and highlights our customers' continued confidence in GMS's operations," said Mansour Al Alami, executive chairman of Gulf Marine Services.
"It follows several new contracts and extensions announced in the last two weeks, reflecting the ongoing strong demand across our markets.
"As we enter 2026, we do so with positive momentum in our core regions."
At 0831 GMT, shares in Gulf Marine Services were up 3.29% at 19.48p.
Reporting by Josh White for Sharecast.com.
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