Garware fleet expansion

Garware Offshore Services based in Mumbai, India, plans to acquire two anchor handling towing-cum-supply vessels (AHTSs) and one platform supply vessel (PSV) for an estimated cost of $55 million. This will increase its fleet size to 10 vessels comprising six AHTSs and four PSVs.

The company is in final stages of negotiations with two Singapore-based shipping yards including Keppel Marine and Pan United for AHTSs for delivery by 2009. The contract for building the new Rolls-Royce UT 755L PSV has been awarded to the Norwegian shipbuilder Havyard Leirvik AS for delivery in October 2008.

The estimated cost of each AHTS vessel is $17 million while the PSV would cost $21 million.