Business Update17 Jun 2026, 12:56 pm
Garware Offshore Secures ₹31 Cr Annual Contract for Vessel Charter
AI Summary
Garware Offshore Services Ltd has received a Letter of Award (LOA) for the charter of one of its vessels for a period of four years, with an option for a one-year extension. The annual contract value is approximately INR 31.00 crores. The LOA is contingent upon the final execution of a Charter Party Agreement. This award signifies a significant business win for the company, securing a substantial revenue stream over the next four to five years.
Key Highlights
- Received Letter of Award for vessel charter.
- Contract duration is 4 years with a 1-year extension option.
- Annual contract value approximately INR 31.00 crores.
- LOA subject to final Charter Party Agreement execution.
Price Impact
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