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Oil & Gas Gulf Marine Services

Gulf Marine Services keeps EBITDA guidance after evacuated vessels return to hire

All four vessels temporarily evacuated from a Gulf country have returned to hire on their original contracts and it is maintaining 2026 adjusted EBITDA guidance of USD 105m-115m.

by tickstock newsroom
The image depicts a busy offshore oil rig facility with multiple drilling platforms and support ships operating in calm waters under a blue sky with scattered clouds. The installation showcases the industrial scale and complexity of offshore oil extraction. — Credit: Photo by Linda Finkin on Unsplash c Photo by Linda Finkin on Unsplash

Gulf Marine Services (LSE:GMS), a provider of self-propelled, self-elevating support vessels (SESVs) to the offshore energy industry, said it will maintain its 2026 adjusted EBITDA guidance of USD 105 million to USD 115 million after the fourth and final evacuated vessel returned to hire.

All four vessels that were temporarily evacuated from one country in the Gulf have now successfully returned to hire on the same contracts, and the company said it continues to assess the final financial impact of the disruption through ongoing discussions with its clients.

"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," Mansour Al Alami, Executive Chairman, said.

GMS operates a fleet of 15 SESVs that support offshore platform refurbishment and maintenance, well intervention and offshore wind work.

The company said it will provide a further update in due course.

by tickstock newsroom