GMS announced that it has secured a long-term contract for the GMS Evolution. Winning this contract follows the successful trial of the vessel's Cantilever Workover System, with an NOC client in the MENA region. The system offers unique and significant operational and cost benefits. GMS Evolution will replace a K-Class vessel, currently on contract with the same client, from January 2021 through to Fourth Quarter 2022, on a higher day rate that reflects the additional capabilities of the GMS Evolution. Reflecting recent contract wins, GMS's backlog currently stands at $220.2m (firm and options), of which $101m will be executed in 2021. GMS is also in advanced discussions for a potential award for the released K -Class vessel, which, if successful will increase secured utilisation for 2021 from 75% to c.80%.