Shares of ABS Marine Services Ltd (NSE: ABSM) surged to a 2% upper circuit at ₹197.10 on Thursday after the company announced a major ₹178 crore Charter Party Agreement with Schlumberger Asia Services Ltd, a Hong Kong-based offshore services firm.
🚢 Deal Details: Offshore Vessel Charter
According to regulatory filings, the agreement involves the charter hire of an offshore well stimulation vessel for an initial period of three years, with an option to extend for another three. The deal is valued at $20.67 million (approx. ₹178 crore) and is expected to significantly boost ABS Marine’s recurring revenue.
📈 Financial Momentum
- Market Cap: ₹483.8 crore
- H2 FY25 Revenue: ₹100 crore (up 25% HoH)
- H2 FY25 Net Profit: ₹19 crore (up 137% HoH)
- Total Contracts Secured in FY25: Over ₹364 crore
The company’s robust financials and growing international footprint have strengthened investor confidence, driving the stock’s upward momentum.
🌍 About ABS Marine
ABS Marine operates across four verticals: Ship Owning, Marine Services, Ship Management, and Port Services. It offers end-to-end vessel management, including crew and commercial operations, and maintains offices in Mumbai, Kochi, Singapore, and Kakinada.
“This agreement reinforces ABS Marine’s position as a key player in offshore logistics and vessel management,” said a company spokesperson.
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