ABG Shipyard delivers vessel to Maridive & Oil, Eygpt

ABG Shipyard Ltd has announced that the Company has delivered and transferred the vessel 61M Anchor Handling Tug / Supply Vessel to Egypt based Maridive & Oil Services SAE. Following the delivery of this vessel worth Rs 410 million, the order book position of the Company stands around Rs 23,100 million.

Following this delivery, the order book position from Maridive & Oil Services is about Rs 2070 million. This is the first of the delivery to Maridive & Oil by the Company, out of the total seven vessel building orders received from the Egypt based company.

In the calendar year 2006, the Company till date has received order in tune of Rs 10,170 million. Among the big orders in 2006, the Company has bagged order from ESL Shipping, Finland worth Rs 2750 million, Lamnalco of Cyprus Rs 1320 million and from Sea Tankers Management Company, apart of John Fredriksen Group Rs 2700 million.

Following the delivery of this Vessel, Company officials said: It is always a moment of joy to complete your first consignment with any given client. Like many other clients, we are expecting a long relationship with Maridive & Oil Services.

Till date we have delivered 92 vessels since 1990, we expect to cross the 100 vessels mark in the current fiscal (FY07), further added.

Source : Equity Bulls

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