ABS Marine Services Limited (NSE: ABSMARINE), one of India’s leading maritime and offshore service providers, has announced that it has signed a Charter Party Agreement with Larsen & Toubro Limited (L&T) for the charter hire of a DP2 Platform Supply Vessel (PSV). The contract, valued at ₹26.70 crore (inclusive of GST and extensions), underscores ABS Marine’s growing presence in India’s offshore energy and logistics sector.
Under the agreement, ABS Marine will provide chartering, operation, and management services for the offshore supply vessel to support L&T’s energy and infrastructure projects. The contract tenure includes a firm period of 120 days, with an optional extension of 56 days, reflecting the strategic importance of the engagement for both companies.
This latest charter adds to ABS Marine’s expanding portfolio of offshore and port service operations. The company has recently secured several long-term and high-value contracts, including charters with ONGC and Schlumberger Asia Services, and multi-year port service agreements with the Chennai and Visakhapatnam Port Authorities. Together, these wins highlight ABS Marine’s technical strength, operational reliability, and consistent growth in India’s maritime ecosystem.
Commenting on the new contract, Captain P.B. Narayanan, Managing Director, ABS Marine Services Limited, said:
“This charter engagement with Larsen & Toubro marks another important milestone in our growth journey. Partnering with a reputed organization like L&T reinforces the industry’s confidence in our operational capabilities and safety-first approach. The deployment of our DP2 Platform Supply Vessel will enhance fleet utilization and strengthen our recurring revenue base. Over the past year, we’ve witnessed robust growth across offshore, port, and specialized marine services, and this contract adds further momentum to that trajectory.”
ABS Marine, which has built a strong reputation over three decades, continues to expand its fleet and service offerings to meet the evolving needs of India’s offshore energy and port infrastructure sectors.
About ABS Marine Services Limited
Founded in 1992 and headquartered in Chennai, ABS Marine Services Limited is a leading maritime company specializing in ship management, vessel ownership, and marine and port services. With extensive experience in third-party technical and crew management, the company emphasizes safety, energy efficiency, and operational excellence both onboard and ashore.
For FY25, ABS Marine reported a Consolidated Total Income of ₹184.31 crore, EBITDA of ₹54.64 crore, and a Net Profit of ₹27.25 crore on a consolidated basis, reflecting its strong financial performance and consistent operational growth.
With the new L&T charter engagement, ABS Marine strengthens its position as a trusted partner in India’s offshore logistics and maritime infrastructure ecosystem, reinforcing its commitment to sustainable growth and service excellence.