Garware Offshore to increase fleet size

Mumbai, Apr 8 (UNI) Garware Offshore Services, a company engaged in the business of owning and operating offshore vessels, announced its plans to buy three anchor handling tugs-cum-supply vessels for USD 13.5 million to USD 15.5 million each.

Two vessels are scheduled for delivery in June and August 2008, while the third one will be delivered in February 2009.

Garware Offshore Services Vice Chairman and Managing Director Aditya Garware said, ''The boom in the oil exploration and production sector brings with it tremendous opportunities for Garware Offshore. To match the industry expectations, our Company has added new vessels, which will enable us to reach to a fleet size of 13 to 14 vessels by fiscal year 2010.'' Garware Offshore will also buy two platform supply vessels for approximately USD 27 million each, which are scheduled for delivery in June 2008 and January 2009.

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