Updates & Ideas

Gulf Marine Services - Pull-back provides second bite of the cherry

November 2024

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.

I originally featured Gulf Marine Services, which owns a fleet of ‘lift boats’ or self-propelled support vessels leased to national oil companies (NOCs), in January 2024 at 12.8p and they subsequently soared to a high of 25p. That they’ve pulled back sharply to 15p is reflective of largest shareholder Seafox’s sell-down from 28.5% to 23.7%. But that pull-back is not justified given the company has not put a foot wrong; furthermore, its markets in the Middle East remain buoyant. In fact, on 12 September it increased its full year guidance for the fourth time in little more than a year with EBITDA for 2024 upgraded from US$85m to US$95m-US$100m. More remarkable still is the growth of its order book from US$163m in June ’22 to a record US$4 ...

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Gulf Marine Services - Another upgrade to guidance (December 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)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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