{"id":54488,"date":"2026-06-26T17:49:43","date_gmt":"2026-06-26T12:19:43","guid":{"rendered":"https:\/\/latestgoldnews.com\/index.php\/2026\/06\/26\/abs-marine-services-secures-rs-126-12-cr-long-term-charter-contract-for-offshore-support-vessel-mv-artemis\/"},"modified":"2026-06-26T17:49:43","modified_gmt":"2026-06-26T12:19:43","slug":"abs-marine-services-secures-rs-126-12-cr-long-term-charter-contract-for-offshore-support-vessel-mv-artemis","status":"publish","type":"post","link":"https:\/\/latestgoldnews.com\/index.php\/2026\/06\/26\/abs-marine-services-secures-rs-126-12-cr-long-term-charter-contract-for-offshore-support-vessel-mv-artemis\/","title":{"rendered":"ABS Marine Services Secures Rs. 126.12 Cr Long-Term Charter Contract for Offshore Support Vessel MV ARTEMIS"},"content":{"rendered":"
\n

Mumbai (Maharashtra) [India], June 26:<\/strong> ABS Marine Services Limited (NSE: ABSMARINE)<\/strong>, one of the leading maritime companies offering comprehensive services in Ship Management, Vessel Ownership, Marine and Port Services has signed a Charter Party Agreement with Hardy Exploration & Production (India) Inc., acting on behalf of itself and its joint venture partners, Oil and Natural Gas Corporation Limited (ONGC) and Invenire Petrodyne Limited, for the deployment of its Anchor Handling Tug Supply (AHTS) Vessel,\u00a0MV ARTEMIS<\/strong>.<\/p>\n

Under the agreement, MV ARTEMIS will be deployed to support petroleum exploration and production activities on the east coast of India. The contract has a firm charter tenure of\u00a01,825 days (5 years)<\/strong>\u00a0from the date of mobilisation, with an option for extension by up to a further\u00a01,825 days<\/strong>\u00a0at the charterer\u2019s discretion. The contract is valued at approximately\u00a0\u20b9<\/strong>126.12 Cr<\/strong>\u00a0(inclusive of GST) over the firm charter period.<\/p>\n

Contract Highlights<\/strong><\/p>\n

\u2022\u00a0Client:<\/strong>\u00a0Hardy Exploration & Production (India) Inc., along with its JV partners ONGC and \u00a0 Invenire Petrodyne Limited
\u00a0\u2022\u00a0Vessel:<\/strong>\u00a0MV ARTEMIS (AHTS Vessel)
\u00a0\u2022\u00a0Contract Type:<\/strong>\u00a0Time Charter Agreement
\u00a0\u2022\u00a0Contract Value:<\/strong>\u00a0~\u00a0\u20b9126.12 Crore (inclusive of GST)
\u00a0\u2022\u00a0Firm Charter Period:<\/strong>\u00a05 Years
\u00a0\u2022\u00a0Extension Option:<\/strong>\u00a0Up to an additional 5 Years at Charterer\u2019s option
\u00a0\u2022\u00a0Area of Operations:<\/strong>\u00a0East Coast of India
\u00a0\u2022\u00a0Purpose:<\/strong>\u00a0Supporting Petroleum Exploration and Production Activities<\/p>\n

Strategic Impact<\/strong><\/p>\n

The contract reinforces the company\u2019s position as a trusted offshore service provider and enhances revenue visibility through a long-term charter arrangement. The deployment of MV ARTEMIS under a multi-year contract is expected to support stable vessel utilization and strengthen the Company\u2019s offshore operations portfolio.<\/p>\n

The award also reflects the Company\u2019s proven operational capabilities and strong relationships within the offshore energy sector. With increasing focus on domestic exploration and offshore energy development, the company remains well positioned to capitalize on emerging opportunities and further expand its presence in the offshore support services segment.<\/p>\n

Commenting on the development, Captain P.B. Narayanan, Managing Director of\u00a0ABS Marine Limited,\u00a0said,\u00a0\u201cWe are pleased to secure this long-term charter contract for MV ARTEMIS. The award underscores the confidence placed in our operational capabilities and service standards by leading participants in the energy sector.
This contract strengthens our revenue visibility over the coming years while further reinforcing our presence in the offshore support services segment. We remain committed to delivering reliable and efficient solutions to our clients while creating long-term value for all stakeholders.\u201d<\/p>\n

About ABS Marine Services Limited<\/strong><\/p>\n

ABS Marine Services Limited,<\/strong>\u00a0established in 1992 and headquartered in Chennai, is one of the leading maritime companies specializing in Ship Management, Vessel Ownership, 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.<\/p>\n

For FY26, the Company has reported Consolidated Total Income of\u00a0\u20b9\u00a0322.64 Cr, EBITDA of\u00a0\u20b9\u00a0152.55 Cr & Net Profit of\u00a0\u20b9\u00a080.80 Cr on consolidated basis.<\/p>\n

Disclaimer: <\/em><\/strong>This article is for informational purposes only and does not constitute financial advice.<\/em><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], June 26: ABS Marine Services Limited (NSE: ABSMARINE), one of the leading maritime companies offering<\/p>\n","protected":false},"author":1,"featured_media":54489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[54],"class_list":["post-54488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/posts\/54488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=54488"}],"version-history":[{"count":0,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/posts\/54488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/media\/54489"}],"wp:attachment":[{"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=54488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=54488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/latestgoldnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=54488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}