KMEW's Fleet Expansion: River Pearl 18 Empowered for Sand Mining Contracts in Bahrain

Knowledge Marine & Engineering Works Ltd, operating through its Wholly Owned Subsidiary Company 'Knowledge Marine Co. W.L.L.,' established in Bahrain, has acquired a Trailing Suction Hopper Dredger River Pearl 18 (Ex SEAFORD) of 1,890 Cubic Meters hopper capacity bearing IMO No. 7349388. The vessel is built in Krupp, Germany in the year 1974 but rebuilt in 2010 and is registered under Bureau Veritas (IACS Class) with the inbuilt pump ashore facility which is very crucial for discharge of sand.

The recently acquired asset, River Pearl 18, will be the third TSHD in the fleet of KMEW and has been mobilized from Bulgaria to Bahrain and is ready to be deployed in Bahrain to spearhead the sand mining contracts. This vessel boasts advanced capabilities, allowing for the efficient extraction of sand from the seabed and seamless transportation over extensive distances. With a projected operational lifespan of approximately 15 years, River Pearl 18 represents a valuable addition to the existing fleet.

Commenting on the acquisition of fleet, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "It is with great pleasure that we announce the latest addition to our fleet, River Pearl 18, which represents a significant stride towards fulfilling our contracted commitments in Bahrain. This new vessel brings us closer to the seamless execution of the projects we have secured in the region. Moving forward, we remain dedicated to strategically expanding our fleet by incorporating vessels that align seamlessly with the requirements of our sand mining operations."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1511.40 as compared to the previous close of Rs. 1548.10. The total number of shares traded during the day was 6500 in over 41 trades.

The stock hit an intraday high of Rs. 1569.00 and intraday low of 1495.00. The net turnover during the day was Rs. 9893043.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 RiverPearl18 SandMiningContract Bahrain