Full Year 2018 Gulf Marine Services PLC Earnings Call Transcript
Well, good morning, everyone. Welcome to the 2018 GMS Annual Results Presentation. My name is Duncan Anderson, and I'm joined by our CFO, John Brown. And before we begin, I'd like to draw your attention to Slide 2, which provides a disclaimer with information on forward-looking statements.
Slide 3 is the agenda. I will go through a quick overview of where the business has been in 2018 and John will follow with a financial review, and then I'll talk on our repositioning plan and give you a quick summary.
Well, the overview. We've -- in 2018, we've had an improved utilization rate for our SESV fleet. It's gone up to 80% from the figure of 61% in 2017. We've seen an improving demand in the markets in which we operate. We've been building on backlog throughout '18. But currently, it's difficult to predict when improved demand will be reflected in increased charter rates. We've had 7 new contract awards, totaling a charter period of around 20 years, and we've had a company record of 13 barge mobilizations onto new
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