ABS Marine Services has signed a Charter Party Agreement with Larsen & Toubro to provide chartering, operation and management of an offshore supply vessel to support the company’s offshore energy and infrastructure projects.
The contract valued at ₹27 crore will be for 120 days with an option to extend it by 56 days.
The new charter engagement with L&T further strengthens ABS Marine’s diversified portfolio of offshore and port service operations. Recently, the company has secured several high-value contracts, including long-term charters with ONGC and Schlumberger Asia Services, and multi-year port service agreements with the Chennai and Visakhapatnam Port Authorities.
Captain PB Narayanan, Managing Director, ABS Marine said the charter engagement with L&T marks the company’s ongoing efforts to expand presence in India’s offshore and energy logistics domain.
The deployment of DP2 (two dynamic positioning system) Platform Supply Vessel for this project will further enhance fleet utilization and contribute to recurring revenue stream, he said.