ADES renews contract for ADMARINE 262 in KSA

ADES has announced that it has secured a contract renewal for ADMARINE 262.

The contract can be renewed for a five-year period, which will be effective upon the expiry of the current contract in April 2020, and will have a higher dayrate.

“We are delighted to secure this renewal for ADMARINE 262 with our extremely valued and important client,” Dr Mohamed Farouk, Chief Executive Officer of ADES International Holding, said. “It further supports our presence in KSA and underpins ADES’s track record for securing renewals for our fleet which results in greater backlog visibility.”