Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Wins a seven-month contract for one of its K class smaller vessels with an unnamed national oil company in the Middle East & north Africa region.

Says that the contract will start in March and bring its total secured utilisation for the year to 79%.

‘This contract award continues to reflect the upward trajectory on day rate levels that we have seen on other recent awards and signals that our markets continue to improve. GMS remains well positioned, with a high level of utilisation already locked in for the year and also going into 2023,’ Executive Chair Mansour Al Alami says.

Current stock price: 5.98 pence, up 1.5% on Thursday

12-month change: up 37%

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