London-listed liftboat operator Gulf Marine Services (GMS) has agreed to acquire a new mid-class vessel. This liftboat is expected to join the company’s 14-vessel fleet in the coming two weeks. GMS claims that it would enable it to capitalise on the current strong market demand. The company added that the acquisition is in line with its objective of doubling its 2024 adjusted EBITDA by 2030. The acquisition has been partially financed through a $37.4m 90-day interim loan provided by a local Middle Eastern bank that is part of the company’s existing lending syndicate, pending the completion of participation by the remaining lenders. The balance of the acquisition cost has been funded from the company’s own cash resources. The unnamed vessel has already been earmarked for several identified commercial opportunities. “We are delighted to announce this acquisition and would like to thank all those involved. This represents the first vessel acquisition by GMS in a decade and marks an important milestone for the company,” said Mansour Al Alami, executive chairman of GMS. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Arab Emirates