Shares in Gulf Marine Services rose on Monday after the company secured a contract extension for one of its offshore support vessels.
The London-listed marine services provider announced the extension of a charter agreement for a platform supply vessel, though it did not disclose the duration or financial terms. The contract is linked to ongoing operations in the Middle East.
The news lifted Gulf Marine Services' stock by 4.5% in early trading, outperforming a flat broader market. The company operates a fleet of offshore support vessels serving oil and gas clients in the region.
Gulf Marine Services has faced volatility in recent months amid fluctuating energy demand and shifting offshore logistics costs. The contract extension provides a near-term revenue boost, though its impact on full-year earnings remains uncertain.
Analysts noted the deal reflects sustained demand for offshore logistics in the Gulf, a key indicator for regional energy sector activity.
