Varun Shipping Co. Ltd. said it had signed contracts with Brazil-based Petrobras, a Government of Brazil undertaking, for three anchor handling towing and supply vessels - Suvarna, Subhiksha and Sudaksha, RTTNews reports.
The initial time charter contracts are for a firm period of four years with an extension option in favor of Petrobras for another four years.
The total contract value estimated for the firm period is Rs.690 crore and for the extension period is Rs.690 crore. Accordingly the total contract value works out to Rs. 1380 crore.
At the BSE, Varun Shipping shares are being traded at Rs.28.45, up by 0.71 percent from the previous close.
The initial time charter contracts are for a firm period of four years with an extension option in favor of Petrobras for another four years.
The total contract value estimated for the firm period is Rs.690 crore and for the extension period is Rs.690 crore. Accordingly the total contract value works out to Rs. 1380 crore.
At the BSE, Varun Shipping shares are being traded at Rs.28.45, up by 0.71 percent from the previous close.