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Gulf Marine SESV chartered by unknown MENA player

30th September 2014

Gulf Marine Services has announced the first contract award for its new enhanced Small Class vessel (the Pepper) by an unknown operator in the MENA (Middle East and North Africa) region

Gulf Marine SESV chartered by unknown MENA player
The vessel, which is currently being built by a third party, is expected to be delivered to GMS in Q1 2015 on a finance lease and will then proceed directly to its first charter for a national oil company in the MENA region

"It is particularly pleasing to have secured this first long-term contract for Pepper in the MENA region where demand for our SESVs is excellent,” said Duncan Anderson, chief executive officer of GMS.

“All seven of our existing Small Class vessels are chartered to clients who are very familiar with the cost-effective advantages our assets bring to brownfield maintenance, well intervention and enhanced oil recovery operations. We are looking forward to taking delivery of the new enhanced Small Class vessel with its additional deck load and area, which will add further value to the group's offering to the client."

The vessel, which is currently being built by a third party, is expected to be delivered to GMS in Q1 2015 on a finance lease and will then proceed directly to its first charter for a national oil company in the MENA region.  The contract is for five years (three years firm with a two-year option), with the day rate in line with that previously indicated for this enhanced class vessel in the region.

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