Optional Deal

Jan 03, 2011 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has won an optional contract to build a third Multipurpose Platform Supply Vessels (MPSV) for Greatship Global Offshore Services of Singapore, a statement said. The main contract for the construction of two 78-metre MPSVs, signed in October 2010, provided for Greatship Global Offshore Services (GGOSL) to exercise an option to construct two more vessels at the same price, which the yard did not disclose.

“With the Offshore Support Vessel market on its way to a gradual recovery, GGOSL has indeed made the right strategic move, by taking steps to beef up their ship assets,” the statement said.

“This will undoubtedly permit GGOSL to successfully grab opportunities which will be forthcoming during a period of upturn in the market, in the future.”

The three MPSVs are scheduled for delivery in the first, second and third quarters of 2012. The yard books profit on vessel delivery.

Greatship Global Offshore Services is a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a subsidiary of The Great Eastern Shipping Company Limited.

“The latest additions to the shipbuilding order book including the two MPSVs from th