Garware Offshore takes delivery of vessel
Garware Offshore Services today said it has taken delivery of a Platform Supply Vessel (PSV) in Norway.
"The acquired vessel is on its way to Aberdeen and will operate in the North Sea market," the company's Chairman and Managing Director, Aditya Garware, said.
Financed at attractive terms and conditions by a bank based out of Singapore, the vessel has been deployed in the high-demand, high-revenue oil and exploration market in the North Sea, the release said.
This development is expected to lead to a substantial boost in the shipping company's revenues, it said. The company has one more state-of-the-art Platform Supply Vessel on order with Havyard Leirvik AS, he said.
This vessel, to be christened as 'M V Makalu', was expected to be delivered by mid-January 2009 and would be a sister vessel to 'M V Mana', he said.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.