UAE-based Gulf Marine Services on Tuesday said that all vessels previously evacuated due to the Iran war have now returned to hire under the same contract.
The offshore marine support firm maintained its 2026 profit guidance, but said that it continues to assess the financial impact from the disruption.
GMS said it had to evacuate four vessels from a Gulf Cooperation Council country in March due to the US-Israeli strikes on Iran, which had effectively closed the Strait of Hormuz, through which about a fifth of global oil supplies pass.
The evacuations had halted its operations in one of the Persian Gulf countries and no revenue from those vessels was recognised in March, driving its first quarter profits down 24 per cent.
GMS on Tuesday reaffirmed its core profit guidance of $105 million to $115 million for 2026, after the final evacuated vessel returned to work.
Mansour Al Alami, Executive Chairman of GMS, said that it is, "well-positioned to capitalise on the strong demand environment across the gulf."
US President Donald Trump on Monday said that the US had signed a preliminary agreement with Iran to end the war, raising hopes for a reopening of the Strait of Hormuz.
GMS shares climb 6.1 per cent to 20.65p in early Tuesday trade.
(Reporting by Simone Lobo in Bengaluru; Editing by Ronojoy Mazumdar)
