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GMS

Opinion

Opinion: Scrap the shady underbelly of offshore industry

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.

Oil & Gas

Gulf Marine Services jack-up barge wins first contract

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.

Markets

Gulf Marine Services posts rise in profits

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.

Oil & Gas

GMS wins contract award for new vessel

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.