ABS Elects Members and Corporate Officers
At the recent Board of Directors and Council meetings of the international classification society ABS, 26 prominent members of the shipping and offshore industries were elected as new members of the society, as well as a new member elected to its technical committee and two corporate officer positions. Mark W. Angela A. Mike J. Dowdy, Vice President of Engineering, Rowan Companies, Inc. Capt. Angeliki N. Frangou, Chairman & CEO, Navios Maritime Holdings, Inc. Aditya Ashok Garware, Vice Chairman & Managing Director, Garware Offshore Services, Ltd. James J. Gaughan, President, James J. Gaughan & Associates Inc. Dr. Ho-Chung Kim, CEO, Daehan Shipbuilding Co., Ltd. Capt. Tae-Jin Kwon, President & CEO, SLS Shipbuilding Co., Ltd. Jong-Ho Lee, President, JINSE Shipbuilding Co., Ltd.
Garware Offshore to Acquire Barge for $25M
Diversifying services from its core business of leasing out ships for oil and gas exploration, Garware Offshore Services Ltd. is acquiring a construction barge from a Chinese manufacturer for $25m. According to a company official, the deal details have been discussed and the order would be finalized sometime this week. The barge, to be delivered by the second quarter of 2009, is being acquired through 100 per cent financing via its Singapore subsidiary on a bareboat charter basis. The deal gives Garware an option for a second order, too. The name of the Chinese company was not disclosed. These barges are required for the maintenance of oil and gas exploration platforms and have an earning potential of $25,000 per day in India, in fair weather conditions.
Gareware Offshore Eyes Shipbuilding Venture
Mumbai-based Garware Offshore Services Ltd. plans to enter the shipbuilding business by setting up a facility to build offshore support vessels. Reports from India say the yard will be a joint venture with Norway-based ship Havyard Leirvik AS. Sources in India have suggested that the company will form a 50/50 joint venture, and that the Indian company is considering various sites in Gujarat for the yard. [Source: http://www.oilpubs.com]
Garware Offshore Plans Shipbuilding Yard with Norway Firm
Mumbai-based Garware Offshore Services Ltd., a company that offers ships for oil and gas exploration activities, plans to enter the shipbuilding business by setting up an exclusive facility for making offshore support vessels. This shipbuilding yard will be a joint venture with Norway-based ship manufacturer Havyard Leirvik AS, promoted by Havyard Group AS. Havyard Leirvik is a leader in making offshore ships, ice-breaking ships and other types of specialized vessels. According to the Shipyards Association of India, shipbuilding will entail an investment of about $76.1m by 2017. Reportedly, the venture could be 50:50, though nothing has been finalized.
Garware Offshore Receives New PSV
Garware Offshore Services Ltd announced that it has taken delivery of a newbuild PSV, Kamet, which was built by Havyard Leirvik in Norway. The vessel, which is a UT 755L with clean notation, DP1 and FiFi1 left Norway recently and is due in India by the third week of June 2007. The vessel will be deployed with Oil and Natural Gas Corporation Ltd on a five year contract. (Source: www.oilpubs.com)
