ABS Marine Services lands 5-year, ₹126 crore charter deal

ABS Marine Services signed a five-year charter contract with Hardy Exploration & Production (India) Inc on behalf of itself and partners ONGC and Invenire Petrodyne. The deal covers deployment of the anchor handling tug supply vessel MV ARTEMIS for offshore exploration on India's east coast.

The contract is valued at roughly ₹126 crore over the firm five-year term. Charterers hold an option to extend for another 1,825 days at their discretion.

Captain PB Narayanan, Managing Director, said the deal strengthens revenue visibility over the coming years and reinforces the company's footprint in offshore support services. He said the company remains committed to delivering reliable solutions and building long-term stakeholder value.

The deployment under a multi-year agreement supports stable vessel utilisation, the company said. With domestic exploration and offshore energy development gaining focus, ABS Marine sees itself positioned to capture further opportunities in the segment.