-
OCTOBER-2005
THE COMPANY HAS CONTRACTED
FOR THE BUILDING OF A UT-755L
DESIGN PLATFORM SUPPLY VESSEL ( PSV) WITH HAVYARD
LEIRVIK AS – A YARD IN NORWAY, SCHEDULED FOR
DELIVERY IN OCTOBER 2006.
-
JANUARY
-2006
THE COMPANY TOOK DELIVERY OF A UT-755
DESIGN PLATFORM SUPPLY VESSEL (PSV) ON DECEMBER 12,
2005, IN NORWAY. THIS VESSEL, ACQUIRED FROM SOLSTAD
OFFSHORE (UK) LTD. IS BUILT IN THE YEAR 2000 AND COMMENCED
IT’S CONTRACT WITH BG EXPLORATION AND PRODUCTION INDIA
LIMITED ( BRITISH GAS ) ON 14Th JANUARY
2006 FOR ONE YEAR TERM, WITH TWO 6 MONTH OPTIONS THEREAFTER.
THE VESSEL OPERATES ON THE WEST COAST OF INDIA.
-
FEBRUARY-2006
THE COMPANY HAS CONTRACTED FOR THE BUILDING OF A SECOND
UT-755L DESIGN PLATFORM SUPPLY VESSEL (PSV) WITH HAVYARD
LEIRVIK AS – A YARD IN NORWAY, SCHEDULED FOR DELIVERY
IN APRIL 2007.
-
MARCH-2006
THE COMPANY’S PSV, MV KAILASH, SCHEDULED FOR DELIVERY
IN OCTOBER,2006 HAS BEEN AWARDED THREE YEAR CONTRACT
BY TRANSOCEAN OFFSHORE INTERNATIONAL VENTURES LTD.
-
APRIL
2006.
ONGC HAS EXERCISED IT’S OPTION OF EXTENDING THE CONTRACTS
FOR THE COMPANY’S VESSEL MV GARWARE I, II, III, AND
V FALLING DUE IN MAY 2006, FOR A PERIOD OF SIX MONTHS,
TILL NOVEMBER 2006.
-
JUNE
2006
THE COMPANY HAS ALLOTTED THE FOLLOWING SECURITIES
:
1. 5,00,000
EQUITY SHARES OF RS 10/- EACH AT A PREMIUM OF RS 90/-
PER
SHARE TO A FOREIGN INVESTOR,
INDIA STAR (MAURITIUS) LTD.
2. 17,75,000
CONVERTIBLE WARRANTS OF RS 10/- EACH AT A PREMIUM
OF RS 90/-
PER WARRANT TO PROMOTERS / NON-PROMOTERS.
3. 25,00,000
10% UNSECURED OPTIONAL CONVERTIBLE DEBENTURES OF RS
100/-
EACH AGGREGATING TO RS 250 MILLION
TO A FOREIGN INVESTOR, INDIA STAR
(MAURITIUS) LTD.
-
JUNE
2006
THE COMPANY HAS CONTRACTED FOR THE BUILDING
OF A TWO UT-755LN DESIGN PLATFORM SUPPLY VESSEL (PSV)
WITH HAVYARD LEIRVIK AS –A YARD IN NORWAY, SCHEDULED
FOR DELIVERY IN JUNE 2008 AND JANUARY 2009 RESPECTIVELY.
-
NOVEMBER
2006
THE COMPANY TOOK THE DELIVERY OF
PSV MV KAILASH AND IS CURRENTLY EMPLOYED WITH
TRANSOCEAN OFFSHORE INTERNATIONAL VENTURES
LTD. ON
3 YEARS CONTRACT.
-
FEBRUARY
2007
THE
COMPANY HAS SIGNED A MEMORANDUM OF UNDERSTANDING (MOU)
WITH HAVYARD LEIRVIK AS, FOR EXCLUSIVE REPRESENTATION
FOR THE MARKETING AND SALE OF SHIPS BUILT BY HAVYARD
LEIRVIK AS AND SHIP DESIGNS PRODUCED BY HAVYARD MARITIME
AS FOR THE INDIAN SUB-CONTINENT.
THE COMPANY HAS RECENTLY SOLD FOUR NOS HAVYARD DESIGNS TO ABG SHIPYARD.
THE COMPANY IS ALSO PLANNING TO SET UP A FIRST OF ITS KIND KNOWLEDGE PROCESS OUTSOURCING(KPO) FOR “WORKSHOP DESIGN CENTRE” IN INDIA IN COLLABORATION WITH HAVYARD LEIRVIK AS WHICH WILL DESIGN ALL TYPES OF MARINE ASSETS. IN VIEW OF THE POOL OF SOFTWARE DESIGN TALENT AVAILABLE IN THE COUNTRY AND THE EXPIEIRNCE AND KNOWLEDGE THAT COMPANY HAS IN OFFSHORE AND SHIPPING INDUSTRY, THE COMPANY EXPECTS AN IMPRESSIVE GROWTH IN THIS SEGMENT.
-
JUNE-2007
THE COMPANY TOOK THE DELIVERY OF PSV MV KAMET AND IS CURRENTLY EMPLOYED WITH ONGC LIMITED ON 5 YEARS CONTRACT.