{"id":38937,"date":"2025-07-01T15:36:17","date_gmt":"2025-07-01T10:06:17","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2025\/07\/01\/abs-marine-announces-major-operational-updates\/"},"modified":"2025-07-01T15:36:17","modified_gmt":"2025-07-01T10:06:17","slug":"abs-marine-announces-major-operational-updates","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2025\/07\/01\/abs-marine-announces-major-operational-updates\/","title":{"rendered":"ABS Marine Announces Major Operational Updates"},"content":{"rendered":"<div>\n<p><b>Mumbai (Maharashtra) [India], July 1:<\/b><span style=\"font-weight: 400;\"> ABS Marine Services Limited (NSE: ABSMARINE), is one of the leading maritime companies offering comprehensive services in Ship Management, Vessel Ownership, Marine and Port Services, has announced two key developments that will enhance its offshore capabilities and support its long-term growth.<\/span><\/p>\n<p><b>Long-Term Charter Agreement\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">ABS Marine has entered into a long-term charter agreement with Schlumberger Asia Services Limited for the deployment of a well stimulation vessel. The contract commenced on June 24, 2025, and spans three years with an option to extend for another three. This agreement ensures revenue visibility and further strengthens the company\u2019s presence in high-end offshore operations.<\/span><\/p>\n<p><b>Highlights:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Client: Schlumberger Asia Services Limited, Hong Kong<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contract Value: ~\u20b9178 crore (USD 20.67 million, incl. GST)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Duration: 3 years firm + 3-year optional extension<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commencement Date: June 24, 2025<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Service: Offshore well stimulation support<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Significance: Strengthens global credentials and recurring revenue base<\/span><\/li>\n<\/ul>\n<p><b>Fleet Expansion with DP2 Well Stimulation Vessel \u2018AM PASSION\u2019<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The company has completed the acquisition of \u2018AM PASSION\u2019, a 2022-built DP2 Offshore Well Stimulation Vessel. This vessel brings advanced offshore capabilities, including dynamic positioning and stimulation systems, enhancing ABS Marine\u2019s operational strength. The vessel consists of both Well Stimulation and Well Testing packages. Including Acid, Proppant and Nitrogen pumping capabilities and testing capabilities up to 10,000 bbl.\/day. The acquisition supports the company\u2019s vision of modernizing its fleet and addressing global offshore project requirements.<\/span><\/p>\n<p><b>Highlights:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vessel Name: AM PASSION<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Year Built: 2022<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Type: DP2 Offshore Well Stimulation Vessel<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gross Tonnage: 4,424 tons<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Acquisition Timeline: Q1 FY25-26<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Significance: Adds modern capabilities for complex offshore missions<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With the induction of AM PASSION, ABS Marine\u2019s total fleet now comprises 37 vessels \u2014 including 8 owned, 1 on long-term charter, and 28 managed under various arrangements such as total and crew management.\u00a0 This strategic expansion reflects the company\u2019s continued focus on enhancing asset base to meet growing offshore demand and deliver reliable marine solutions across global markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Comment on Financial Performance Captain P.B. Narayanan, Managing Director of ABS Marine Limited said, \u201cThe charter agreement signed with Schlumberger Asia Services Limited marks an important addition to our offshore operations portfolio. It reflects our ability to meet specialized requirements for high-performance vessels and strengthens our presence in technically advanced offshore services. With this contract in place, our total order book now stands at over \u20b9542 crore, providing multi-year visibility and reinforcing our position as a dependable offshore logistics partner.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alongside this, we have expanded our fleet with the addition of AM PASSION, a 2022-built DP2 offshore well stimulation vessel. The vessel brings enhanced operational capability and aligns with our strategy to deploy next-generation assets. Our fleet today is a mix of offshore support vessels, research ships, patrol boats, and harbour crafts\u2014allowing us to serve a broad range of clients across energy, government, and port operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both developments reflect our continued focus on strengthening execution capacity and supporting long-term growth. We remain committed to scaling responsibly, maintaining service reliability, and building a fleet that meets evolving industry needs across domestic and international markets.\u201d<\/span><\/p>\n<p><em>If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 1: ABS Marine Services Limited (NSE: ABSMARINE), is one of the leading maritime companies offering comprehensive services in Ship Management, Vessel Ownership, Marine and Port Services, has announced two key developments that will enhance its offshore capabilities and support its long-term growth. Long-Term Charter Agreement\u00a0 ABS Marine has entered into a&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/dailynewsindia.co.in\/index.php\/2025\/07\/01\/abs-marine-announces-major-operational-updates\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;ABS Marine Announces Major Operational Updates&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":38938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[635],"class_list":["post-38937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-national"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/38937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=38937"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/38937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/38938"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=38937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=38937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=38937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}