Gulf Marine Services (GMS) has made progress in shoring up its future but much rests on its negotiations with lenders.
One of the two heavy lift vessels which arrived in the Moray Firth around New Year is finally leaving Scottish waters with a rig.
A Brussels-based shipbreaking whistleblower pulled out of a conference due to the participation of a firm against which it is involved in legal action.
A Chinese heavy lift transport ship which was booked to remove a rig from the Cromarty Firth has sailed away empty handed.
As I write this, two Chinese heavy lift transport ships remain anchored in Scotland’s Inner Moray Firth waiting for orders. They were supposed to have loaded by now and carted away for scrapping a couple of semi-submersible drilling rigs that have been laid up in the Cromarty Firth for some time.
Fears have been raised about the fate of three oil rigs cold-stacked in the Cromarty Firth.
Gulf Marine Services (GMS) has won its first contract for the GMS Scirocco after completing the vessel ahead of schedule. The company said the jack-up barge will commence a four month contract next month for an engineering, procurement and construction contractor. All other vessels owned by GMS have been delpoyed to support brownfield oil and gas production, well services and maintenance work in the MENA region.
Gulf Marine Services has posted a rise in profits up 13% on the same time the year before. The company posted adjusted net profits of $81.3million while revenues were up 7% at $196.6million. Gross profits also rose by 6% to $126.5million and net profits were 9% up at $75.6million.
GMS (Gulf Marine Services) has won its first contract award for one of its mid-size vessels. The GMS Shamal will be chartered by national oil company in the MENA region. The company said the contract is for five years, which includes a two years firm option, with a further three one-year options.