SEPA-blocked rig preparing for move in Cromarty Firth
An oil rig which was blocked from leaving the Cromarty Firth in 2018 appears to be preparing for a move.
GMS
No removal in sight for Youtuber playground oil rig in Cromarty Firth
There remains no removal plan in place for an oil rig in the Cromarty Firth which has become a dangerous playground for thrill-seekers.
GMS restructures debt, plans capital raise
Gulf Marine Services (GMS) has reached a deal with its banks to restructure its debt, three weeks ahead of schedule, pushing out maturities until June 2025.
GMS rejects Seafox offer
Gulf Marine Services (GMS) has formally rejected a “wholly opportunistic” bid for the company from its largest shareholder, Seafox International.
No resolution in sight for trio of rigs detained in Cromarty Firth
A trio of oil rigs whose departure from the UK was blocked two years ago amid safety and environmental concerns are still in the Cromarty Firth.
GMS battles forward
Gulf Marine Services (GMS) has made progress in shoring up its future but much rests on its negotiations with lenders.
Controversial Cromarty Firth rigs in lockdown as second heavy lifter exits
One of the two heavy lift vessels which arrived in the Moray Firth around New Year is finally leaving Scottish waters with a rig.
Shipbreaking whistleblower refuses part in conference session chaired by GMS
A Brussels-based shipbreaking whistleblower pulled out of a conference due to the participation of a firm against which it is involved in legal action.
Chinese heavy lifter departs Moray Firth empty handed
A Chinese heavy lift transport ship which was booked to remove a rig from the Cromarty Firth has sailed away empty handed.
Opinion: Scrap the shady underbelly of offshore industry
As I write this, two Chinese heavy lift transport ships remain anchored in Scotland’s Inner Moray Firth waiting for orders. They were supposed to have loaded by now and carted away for scrapping a couple of semi-submersible drilling rigs that have been laid up in the Cromarty Firth for some time.
Fears trio of Cromarty Firth-stacked rigs headed for beaches, not yards
Fears have been raised about the fate of three oil rigs cold-stacked in the Cromarty Firth.
Gulf Marine Services jack-up barge wins first contract
Gulf Marine Services (GMS) has won its first contract for the GMS Scirocco after completing the vessel ahead of schedule. The company said the jack-up barge will commence a four month contract next month for an engineering, procurement and construction contractor. All other vessels owned by GMS have been delpoyed to support brownfield oil and gas production, well services and maintenance work in the MENA region.
Gulf Marine Services posts rise in profits
Gulf Marine Services has posted a rise in profits up 13% on the same time the year before. The company posted adjusted net profits of $81.3million while revenues were up 7% at $196.6million. Gross profits also rose by 6% to $126.5million and net profits were 9% up at $75.6million.
GMS wins contract award for new vessel
GMS (Gulf Marine Services) has won its first contract award for one of its mid-size vessels. The GMS Shamal will be chartered by national oil company in the MENA region. The company said the contract is for five years, which includes a two years firm option, with a further three one-year options.