Garware Offshore Services Ltd Secures Vessel Charter Contract Worth Approx. INR 31 Crore
Garware Offshore Services Ltd, which was previously known as Global Offshore Services Limited, has secured a Letter of Award (LOA) for the charter of one of its vessels. The contract carries significant value and duration, marking a key operational development for the company.The LOA details the engagement of the vessel under a long-term agreement with an annual contract value approximating INR 31.00 crores.
This contract award covers a total tenure of four years, along with a provision for a one year extension period.
The receipt of the Letter of Award is subject to the final execution of a Charter Party Agreement concerning this business deal.
Stock Price Movement
As of 12:54, shares of Garware Offshore Services Ltd. are edging higher by 10.00%, trading at the current price of ₹55.77. The stock has experienced volatility today, moving within an intraday range between a low of ₹49.00 and its high of ₹55.77.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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