Mumbai (Maharashtra) [India], November 7: ABS Marine Services Limited (NSE: ABSMARINE), one of the leading maritime companies offering comprehensive services in Vessel Ownership, Ship Management, Marine and Port Services, has announced that it has signed a Charter Party Agreement with G R Infraprojects Limited for its Offshore Support Vessel, MV SERENITY (IMO 9562647).
Key Contract Highlights
- Contract Value: Approximately ₹21.94 crore (inclusive of GST at 18%)
- Nature of Contract: Time Charter Party (BIMCO SUPPLYTIME 2017) for charter hire of one Offshore Support Vessel
- Tenure: 160 days from vessel delivery, including extensions
- Vessel Delivery: Between 20th November 2026 and 10th December 2026
Under the agreement, MV SERENITY will support pipelay and subsea works in ONGC fields off the west coast of India. The contract will commence with the delivery of the vessel, and the contract value is based on the contracted day rate over the 160-day charter period, excluding fuel and fresh water.
The order has been awarded by a domestic entity and adds to the Company’s growing charter business. It further enhances the Company’s revenue visibility and reinforces its position as a trusted provider of offshore support services to India’s energy sector.
Commenting on the development, Captain P.B. Narayanan, Managing Director of ABS Marine Services Limited, said, “We are pleased to have signed this charter agreement with G R Infraprojects Limited for MV SERENITY. The deployment of the vessel to support pipelay and subsea works in ONGC fields off the west coast of India reflects the confidence our customers place in our fleet capabilities and our operational track record in offshore support services.
This contract adds to the revenue visibility of our charter business and further strengthens our presence in India’s offshore energy sector. We remain focused on expanding our fleet, deepening relationships with leading energy and infrastructure companies, and delivering safe, efficient and reliable operations for our clients.”
About ABS Marine Services Limited
ABS Marine Services Limited, established in 1992 and headquartered in Chennai, is one of the leading maritime companies specializing in Vessel Ownership, Ship Management, Marine, and Port Services. With offices in Mumbai, Kochi, Singapore, and Kakinada, ABS provides comprehensive maritime solutions worldwide, emphasizing professionalism, local expertise, and regulatory compliance for efficient operations. With over three decades of experience in third-party technical and crew management, the company focuses strongly on safety and energy conservation both onboard and ashore, driving excellence in the maritime industry.
For FY26, the Company has reported Consolidated Total Income of ₹ 322.64 Cr, EBITDA of ₹ 152.55 Cr & Net Profit of ₹ 80.80 Cr on consolidated basis.
Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
