Garware Offshore signs new contract in Africa

Mumbai: Garware Offshore Services (GOSL), has signed a three year contract for its new 60T Anchor Handling Tug cum Supply vessel (AHTSV) to be deployed in Africa. The revenue from this contract is estimated to be approximately about $15 million. The contract is likely to commence in January or February 2009.

This deployment in Africa, is a new market for the company. In July this year, GOSL had deployed a 60T AHTSV in Vietnam for a contract period of up to three years. Aditya Garware, vice chairman and managing director, GOSL said,' The expansion in the fleet size is to fulfill the rising demand of vessels from oil exploration and production companies. With the delivery of this new AHTSV the fleet size will touch nine vessels inching closer to our target of 13-14 vessels by FY10.'