16th Jun 2026 12:07
Gulf Marine Services PLC - London and Abu Dhabi-based operator of self-propelled self-elevating support vessels for offshore energy industry - Confirms all vessels that were temporarily evacuated from one Middle East country due to the "prevailing geopolitical situation" have returned to hire on the same contracts. Back in early March, shortly after the outbreak of the war between the US and Iran, Gulf Marine Services said it received instructions from a client to evacuate four vessels in one of the Gulf countries as a precautionary measure. It doesn't name the client or the country.
Gulf Marine Services says it is maintaining its adjusted earnings before interest, tax, depreciation and amortisation guidance for 2026 in the range of USD105 million to USD115 million. In 2025, adjusted Ebitda was USD112.9 million. The company continues to assess the financial impact of the disruption.
"We are very pleased to confirm that the fourth and final evacuated vessel has now returned to hire. This is a significant milestone, and we are encouraged by the positive momentum we are seeing both operationally and on the geopolitical front. The swift and safe return of all four vessels is a testament to the professionalism of our crews and the strength of our client relationships, which have remained robust throughout this period," says Executive Chair Mansour Al Alami.
Current stock price: 20.42 pence, up 5.0% around midday on Tuesday in London
12-month change: up 5.0%
By Christopher Ward, Alliance News reporter
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