Global Offshore Services Ltd has secured a term contract for one of its vessels, spanning 90 days, with a contract value of ₹25 crore on an annual basis. This contract enhances the company’s visibility and revenue stream in the offshore shipping services sector.
Global Offshore Services Limited, a key provider of offshore support and shipping services, announced that it has secured a 90-day term contract for one of its vessels. The contract comes with an annualized value of ₹250 million (₹25 crore), underscoring the company’s strong market position and operational capabilities.
This contract reflects the growing demand for offshore vessels supporting operations such as oil and gas exploration, renewable energy projects, and maritime logistics. The company’s fleet, known for reliability and efficiency, continues to attract contracts across domestic and international ports.
The awarded contract will contribute positively to Global Offshore’s financial health, providing predictable cash flow and assisting in optimizing fleet utilization. The firm remains focused on expanding its service portfolio and exploring new markets to capitalize on the increasing offshore activity globally.
Key Highlights:
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Contract awarded for a 90-day term for one vessel
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Annualized contract value of ₹250 million (₹25 crore)
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Strengthens Global Offshore Services’ presence in offshore shipping
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Supports oil, gas, renewable energy, and maritime logistics sectors
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Enhances revenue visibility and fleet utilization efficiency
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Aligns with company’s strategy for growth in offshore markets
Source: Business Upturn, Global Offshore Services Ltd filings, Economic Times