GMS Loses SESV Contract
Gulf Marine Services (GMS),a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil and gas industry, got an early contract termination for one of its vessels.
The company reported on Tuesday that a notice of early termination has been received for a Mid-Size Class SESV.
The vessel was supporting well services for a national oil company in the Middle East and North Africa (MENA) region, but GMS did not reveal the name of the oil company nor of the vessel involved.
According to GMS, the unnamed vessel is expected to come off charter early in the fourth quarter of 2016.
The company recently won a new contract for one of its mid-size class vessels and a contract extension for a small class vessel.
