Gulf Marine Services Enters Africa, Latin America with New Contracts
May 5, 2026
Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has secured two contracts, marking its entry into Africa and Latin America and expansion of its footprint into new offshore energy markets.
The first contract covers the deployment of a newly acquired vessel on a 170-day charter, including options, at day rates the company described as attractive.
The second contract involves providing technical and operational management services for an externally owned vessel operating in Africa for one year, marking the company’s entry into third-party vessel management.
“These two contract awards mark an important step forward in our growth and diversification strategy. Entering Africa and Latin America broadens our global presence, while the third-party vessel management contract highlights our ability to leverage our operational expertise beyond our owned and leased fleet. We are particularly pleased to have secured strong rates for our newly acquired vessel, reinforcing the value of our recent investment.
“The company looks forward to delivering these projects safely and efficiently and to building long-term relationships in these new markets. We are also pleased to confirm that these developments are in line with our expectations, and we maintain our adjusted EBITDA guidance for 2026 in the range of $105 million to $115 million,” said Mansour Al Alami, Executive Chairman of GMS.
The company said its backlog now stands at $666 million.
