Sadhav Shipping Anchors a $12.3 Million ONGC Deal with M.V. Canara Pride

Sadhav Shipping Ltd. has announced a significant contract win with Oil and Natural Gas Corporation Ltd. (ONGC) valued at approximately USD 12.3 million. The company has deployed its technologically upgraded vessel, M.V. Canara Pride, under a three-year contract with ONGC, marking a strategic milestone in its offshore logistics services.

 

Contract Value and Duration

Vessel Deployment and Upgradation

M.V. Canara Pride has been deployed following a major technical upgradation from DP1 (Dynamic Positioning) to DP2 capabilities.

 

This enhancement improves the vessel’s dynamic positioning precision and operational versatility, making it suitable for high-performance offshore assignments.

 

Strategic Importance

The contract strengthens Sadhav Shipping’s position as a key service provider to ONGC in offshore exploration and production.

 

The deal represents a significant step in expanding Sadhav Shipping’s offshore logistics footprint.

 

Operational Impact

M.V. Canara Pride will support ONGC’s offshore operations, facilitating efficient and reliable logistics.

 

The technological upgrades are expected to enhance safety, efficiency, and service quality.

 

Leadership Vision

Sadhav Shipping’s leadership views this deployment as aligning with India’s growing maritime and offshore sector.

 

Emphasis on the company’s growth trajectory and commitment to deploying advanced maritime solutions.

 

Sources: NSE Corporate Filing, Market Screener, Sadhav Shipping official release, DSIJ, Economic Times Infra