Updates

Gulf Marine Services

August 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Should the brief war that erupted between the US and Iran end, it will be good news for Gulf Marine, the Abu Dhabi-based operator of self-propelled, self-elevating liftboats that service offshore oil, gas and wind installations. Finals for 2025 showed revenue up 12% to US$188.1m, with EBITDA of US$113m beating forecasts of US$106.7m. Encouragingly, net debt has come down to US$156.6m, pulling net leverage down to a comfortable 1.8x. Financial costs also tumbled more than a third. And if you look past the statutory net profit, which halved to US$19.5m due to a one-off tax hit and small-vessel impairments, the underlying business is humming. Average day rates jumped 11% to US$36.6k as legacy, cheap contracts rolled off. Ope ...

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Informa

Gulf Marine Services - Backlog grows again after new contract win (March 2026)

Gulf Marine Services (February 2026)

Gulf Marine Services - Average day rates hit US$36k (December 2025)

Gulf Marine Services - Provider of self-propelled lift boats enjoys soaring rig rates in Persian Gulf (November 2025)

Gulf Marine Services (June 2025)

Gulf Marine Services (May 2025)

Gulf Marine Services - EBITDA guidance raised 5% (February 2025)

Gulf Marine Services - Another upgrade to guidance (December 2024)

Gulf Marine Services - Pull-back provides second bite of the cherry (November 2024)

Gulf Marine Services - January write-up has gained 76% (May 2024)

Gulf Marine Services - Second upgrade in quick succession (April 2024)

Gulf Marine Services - Gain in 2 months: 38% (March 2024)

Gulf Marine Services - New contracts drive chart break-out (February 2024)

Gulf Marine Services - Middle East lift boat provider enjoys two upgrades (January 2024)

Gulf Marine Services - Oil & gas asset leasing group makes encouraging debut (May 2014)

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