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IN BRIEF: Gulf Marine evacuates personnel in Middle East amid war

ALN

Gulf Marine Services PLC - provider of support vessels to the offshore energy industry - Says it has received instructions, with which it ‘has complied promptly’, from an unnamed Middle East client to immediately evacuate personnel from four vessels operating under its jurisdiction. Says this is a precautionary measure due to ‘the ongoing situation in the Gulf region’. Gulf Marine adds that it is closely monitoring the situation, and is working to quantify the potential impact of recent events in the region on its financial and operational performance. Intends to issue further updates ‘as appropriate, in due course.’

The US and Israel launched a war against Iran on Saturday, which has retaliated by striking several US bases in the Middle East, as well as airports. On Wednesday, Iran’s Revolutionary Guards they had ‘total control’ of the Strait of Hormuz, a key waterway for global energy transit. With energy prices already spiking, US President Donald Trump had said the US Navy was ready to escort oil tankers through the crucial Gulf shipping route.

Current stock price: 20.70 pence each, down 9.0% on Wednesday around noon in London

12-month change: up 16%

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