Greatship India battles with GOL

Greatship (India), a wholly-owned subsidiary of Great Eastern Shipping Company (GE Shipping) is competing with Great Offshore (GOL), the demerged entity of GE Shipping, over the offshore vessels contract of Oil and Natural Gas Corporation (ONGC). Both the companies have submitted bid for ONGC’s major tender for 30 offshore support vessels including Anchor Handling Tug Supply Vessels (AHTSs) and Platform Supply Vessels (PSVs). ONGC will appoint the contractor in January 2007.

K M Sheth, executive chairman of both GE Shipping and GOL, said, “There is enough scope in the off-shore sector as there is acute shortage for drilling rigs and OSVs. Both companies will compete with each other to catch the opportunities in the sector.”

Industry analysts pointed out that this would be first instance where two entities compete for a mega tender with a common chairman.