ABG Shipyard bags major order from Precious Shipping PSL, Thailand

ABG Shipyard Ltd has announced that the Company has secured a major order for Construction of 12 vessels of approximately 32,000 DWT, for a total price of US $ 360 million (Rs 1460 crores) from Precious Shipping Public Co. Ltd., Thailand, as a part of its ship acquisition programme.

ABOUT PRECIOUS SHIPPING PUBLIC CO. LTD: Precious Shipping Public Company Limited (PSL) is a pure dry cargo ship-owner operating in the handy size sector of the Tramp freight market. PSL's 44 Shipping fleet makes it one of the largest, if not the single largest, company in the world operating in this segment. PSL was established in December, 1989 and commenced commercial operations in March 1991 after obtaining the approvals from the bank of Thailand and the Board of Investment. PSL was granted "Listed" status on the Stock Exchange of Thailand on the l6 of September, 1993.

General information about the vessel is as under :

1. Order for - Construction of 12 vessels of 32,000 DWT.

2. Value of the Vessel - US$ 360.0 million (Rs 1480 crores)

Following this order the order book position of the Company, as on date, stands at about Rs 55,600.0 Million."

Source : Equity Bulls

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