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GMS plans to spend $400m by 2016

: Sunday, May 11 - 2014 @ 00:48

Abu Dhabi-based oil services firm, Gulf Marine Services (GMS) has announced plans to spend around $400m up to 2016 and expand into southeast Asia and West Africa next year to tap strong demand for its vessels, Reuters has reported. “There’s huge potential in south-east Asia and West Africa where our type of assets are in demand and we need to take tonnage there,” said GMS chief executive, Duncan Anderson. The firm, which currently has a fleet of nine vessels, plans to add another six by 2016 as part of its new build programme with capital spending of around $400m, he added.

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Sunday, May 11- 2014 @ 0:48 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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