PNN
Mumbai (Maharashtra) [India], November 20: ABS Marine Services Limited (NSE: ABSMARINE), is one of the leading maritime companies offering comprehensive services in Ship Management, Vessel Ownership, Marine and Port Services, has commenced a charter hire contract for its vessel M.V. Ocean Diamond with M/s. Larsen & Toubro Limited.
New Vessel Deployment Contract
- Contract Awarding Entity: M/s. Larsen & Toubro Limited, India
- Nature & Scope of the Contract: Charter Hire of an Offshore Supply Vessel
- Contract Value: Around ₹26.07 Cr, (inclusive of GST)
- Vessel Category: DP-2 Platform Supply Vessel (PSV) - M.V. Ocean Diamond
- Contract Commencement & Tenure: Effective 17 November 2025 with a 150-day firm period and a 28-day extension option.
The new charter for M.V. Ocean Diamond enhances the company's operational visibility and strengthens utilisation of its DP-2 class asset in India's expanding offshore and energy support ecosystem. Securing this engagement from Larsen & Toubro Limited reinforces the company's technical capability, long-standing industry relationships, and strong compliance standards, while also contributing to revenue stability over the contract period. The agreement creates scope for repeat deployments and deeper partnerships in offshore support services, supporting the company's focus on expanding across high-demand segments, improving fleet efficiency, and delivering consistent value through safe, reliable, and energy-efficient maritime operations.
Comment on Financial Performance Captain P.B. Narayanan, Managing Director of ABS Marine Limited said, "This charter for M.V. Ocean Diamond comes at an important time for us, as it enhances visibility for our offshore operations and ensures optimal deployment of a key DP-2 vessel. Working with Larsen & Toubro Limited once again reflects the confidence leading industry players place in our technical capabilities, safety standards, and consistent service quality. The engagement will support steady revenue over the contract period and opens up opportunities for repeat work and longer-term partnerships in the offshore support space. As activity in the energy and offshore ecosystem continues to expand, we see strong prospects for scaling our presence, improving fleet productivity, and strengthening our growth trajectory in the quarters ahead."
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