Varun Shipping Company signs contract with Petrobras for three Anchor Handling Towing and Supply Vessels

18 May 2011 Evaluate

Varun Shipping Company has signed contracts with Petrobras, Brazil, a Government of Brazil undertaking, for three Anchor Handling Towing and Supply Vessels (AHTS), Suvarna, Subhiksha and Sudaksha. The initial time charter contracts are for a firm period of four years with an extension option in favour of Petrobras for another four years. While, the total contract value estimated for the firm period is Rs 690 crore and for the extension period is Rs 690 crore. Accordingly the total contract value works out to Rs 1380 crore.

Varun Shipping is the leading Indian private sector shipping company that owns and operates vessels in the hydrocarbon sector. The company has a well diversified fleet due to which it offers a comprehensive transportation and support solutions, thus making it a global player in energy transportation and offshore exploration and production (E and P) support services.

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Company Name CMP
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