Varun Shipping to acquire two AHTS

Vessel & ROV News - January 30, 2007

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Varun Shipping has signed Memorandum of Agreement to acquire two un-named 2001-built AHTS vessels of circa 180 tonnes bollard pull.

One of the vessels is scheduled to be delivered by end of January, 2007 and the second in April/May 2007.

"These modern and highly sophisticated world class vessels will be used for deep sea oil exploration in the North Sea, Bay of Bengal and Atlantic Ocean off the coasts of Nigeria, Brazil and Mexico," said the company in a statement.

These vessels are of Vik-Sandvik design and will be among the highest bollard pull AHTS under the Indian flag.

With the acquisition of vessels, the company will have completed an investment of around US$320 million of a proposed expansion plan of US$400 million.


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