Sadhav Shipping Limited Secures Long-Term Pilot Launch Services Contract from Mumbai Port Authority
Sadhav Shipping Limited, an integrated maritime services company, has secured a significant work order from the Mumbai Port Authority (MbPA) for the charter hiring of two Pilot Launches. The contract is valued at Rs 18.07 cr and establishes a long-term operational partnership to support maritime activities within one of India's major ports.The agreement is set for an initial duration of seven years, with an option for an additional three-year extension at the discretion of the Mumbai Port Authority. Under the terms of this contract, Sadhav Shipping will manage the deployment and operation of two Pilot Launches on a 24x7 basis. This includes providing the vessels, required crew, maintenance, and operational support as per the specifications mandated by the Port.
This engagement enhances the company's presence in the Indian port services segment and expands its portfolio of recurring contracts. Notably, Sadhav Shipping secured this work order for the new builds before their hulls were launched. The company had previously placed orders with A.H. Wadia Boat Builders for four new Pilot and Security Boats, with an additional option for two more boats.
The long-term nature of this contract provides the company with enhanced revenue visibility and reinforces its capabilities in providing marine support services to major ports across India.
Contract Overview
| Feature | Details |
|---|---|
| Client | Mumbai Port Authority (MbPA) |
| Service Type | Charter Hiring of Pilot Launches |
| Number of Launches | 2 |
| Total Contract Value | Rs 18.07 cr |
| Initial Duration | 7 Years |
| Extension Option | Up to 3 Additional Years |
| Operational Basis | 24x7 |
Commenting on the development, Mr. Vedant K. Choudhury, CEO of Sadhav Shipping Limited, stated that the award reflects confidence in the company's operational expertise and safety standards. He noted that the contract strengthens their position in the port services business while supporting India's growing maritime infrastructure.
Mumbai Port Authority remains a strategically important major port in India. Pilot launch services are essential for ensuring the safe and efficient transfer of marine pilots, which supports uninterrupted port operations.
Sadhav Shipping Limited was incorporated in 1996 and is headquartered in Mumbai. The company offers offshore logistics, port services, oil spill response, and specialized marine solutions to the maritime, energy, and infrastructure sectors.
SADHAV Stock Price Movement
Sadhav Shipping Limited shares rallied by 1.59% today to settle at ₹115.8 after climbing from previous levels. The stock saw a total turnover of 94,800 shares during the session.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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