GE Shipping places new order for 2 more state of the art PSV's

Great Eastern Shipping Company Ltd (GE Shipping) has inform BSE that Greatship Global Offshore Services Pte. Ltd. (GGOS), Singapore, wholly owned by Greatship (India) Ltd (GIL) has signed a contract for 2 more new building Multi Purpose Platform Supply & Support Vessels with Keppel Singmarine Pte. Ltd, Singapore. These vessels are expected to join the fleet of GGOS during the second half of FY 2009-10.

Greatship Global Offshore Services Pte Ltd, Singapore has signed a contract for 2 more new building Multi Purpose Platform Supply & Support Vessels with Keppel Singmarine Pte Ltd, Singapore. These vessels are expected to join the company fleet in H2FY 2009-10. The Multi Purpose Platform Supply & Support Vessels, similar to the ones ordered in July this year, are of 4600+ dwt, fitted with DP-2 and have diesel electric propulsion. The vessels, which are also prepared for helideck and offshore crane, are larger and technologically more advanced than any PSV currently operating in Indian waters.

Greatship Global Offshore Services Pte Ltd is wholly owned by Greatship (India) Ltd (GIL), which in turn is a wholly owned subsidiary of the Company.

GIL and its subsidiaries already have a new building order book of 12 new building Offshore Supply Vessels and 1 flew building 350 feet Jack up Rig. Apart from this, there is also 1 second hand modern PSV, which is to be delivered in Q2 FY 2007-08.

Source : Equity Bulls

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