Great Eastern Shipping’s Singapore subsidiary acquires another Multipurpose Platform Supply and Support Vessel
Greatship Global Offshore Services Pte. Ltd. (GGOS), a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a subsidiary of The Great Eastern Shipping Company Limited (G. E. Shipping) has taken delivery of GREATSHIP MAMTA, a Multipurpose Platform Supply and Support Vessel, from Keppel Singmarine
Pte. Ltd., Singapore.
Greatship Mamta is a DP2 vessel, capable of supporting offshore exploration, production and subsea construction activities and has been built complying with the new SPS Code 2008.
G E Shipping is India's largest private sector shipping service provider enjoying a formidable presence in the international maritime industry. The company has two main businesses: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India) Limited.
The shipping business operates under two main businesses: dry bulk carriers and tankers. A sizeable part of the tankers enjoy approvals from oil giants like SHELL, BP, EXXONMOBIL, CHEVRONTEXACO, TOTALFINAELF and BHP. G. E. Shipping’s profits dropped steeply last year to $ 84 million from $ 295 million which the company netted in the previous fiscal.
With the delivery of Greatship Mamta, GIL and its subsidiaries currently own and / or operate five PSVs, seven AHTSVs, two jack up rigs and two MPSSVs. GIL and its subsidiaries also have an order book of eight vessels
“We have another MPSSV on order from Keppel Singmarine Pte. Ltd., Singapore,” stated Anjali Kumar, Asst General Manager, Corp.Finance & Investor Relations of Great Eastern Shipping Co Ltd. “Two MSVs are being build for us at the Mazagaon Docks, Mumbai in India, three ROVSVs are being built at Colombo in Sri Lanka and two 150 TBP AHTSVs at the Dry Docks World in Singapore.”
Earlier on July 9th this year the GGOS had acquired GREATSHIP ABHA, an 80 T Anchor Handling Tug cum Supply Vessel on a sale cum lease back arrangement. This vessel has been sold and GGOS has terminated the bareboat charter simultaneously with its delivery to the buyers, on July 9th, 2010. Prior to this GIL had also delivered the Platform Supply Vessel, GREATSHIP DIYA, to the buyers on May 18th. , 2010.
GIL offers drilling and offshore logistics services, as well as vessels in order to meet the needs of offshore construction companies to support offshore construction, maintenance, modifications, and sub-sea operations. The average age of their vessels is approximately 2.51 years. All the vessels are dynamically positioned with redundancy, capable of carrying multiple products (including liquid mud, dry-bulk, etc.), and capable of carrying out multiple operations.