ABS Marine Services Limited secures ₹126.12 crore time-charter

ABS Marine Services Limited (NSE: ABSMARINE) – Order/Contract Bagging Announcement

Introduction

ABS Marine Services Limited (NSE: ABSMARINE) disclosed a new order/contract bagging event on 19 June 2026, pertaining to a charter agreement signed on 18 June 2026.

Key Details of the Order

Nature of the Contract

Type: Time Charter Contract for one Anchor Handling Tug Supply (AHTS) vessel, MV ARTEMIS.
Purpose: Support petroleum operations on the east coast of India.

Counterparty

Awarding Entity: Hardy Exploration & Production (India) Inc., on behalf of itself and its joint‑venture partners Oil and Natural Gas Corporation Limited (ONGC) and Invenire Petrodyne Limited.
Country: India
LEI/ CIN: F01311
Relationship: Not a related‑party transaction; the counterparty is not an Indian listed entity nor part of any listed group.

Financial Scope

Contract Value: ₹126.12 crore (inclusive of 18 % GST).
Basis: Contracted day rates excluding fuel and fresh water.

Tenure & Execution

Firm Charter Period: 1,825 days (5 years) from the date of mobilisation (18 June 2026).
Extension Option: Up to an additional 1,825 days at the charterer’s discretion, in tranches.
Execution Date: 18 June 2026.

Transaction Characteristics

Domestic Transaction: Yes.
Ordinary Course of Business: Yes.
Promoter/Group Interest: None.

Significance for Investors

Revenue Outlook: The five‑year charter secures a steady revenue stream of approximately ₹126.12 crore over the contract period.
Strategic Fit: Enhances ABS Marine’s utilization of its AHTS fleet and deepens engagement with major Indian oil & gas players (ONGC).
Risk Profile: The deal is non‑related‑party, domestic, and executed under standard commercial terms, indicating limited regulatory or conflict‑of‑interest concerns.

All information presented is extracted directly from the company’s XBRL announcement dated 19 June 2026.

Stock Impact Forecast

PreviewMedium Confidence

▲Bullish

The new 5‑year time charter adds a steady revenue stream and deepens ties with ONGC, which should lift ABS Marine’s share price modestly. Expect a small upside in the near term that may taper off as the news is priced in.

Forecast from comparable, historic events. Not investment advice.

Original Source Document

View the original exchange filing or announcement.

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Key Details of the Order

Nature of the Contract

Type: Time Charter Contract for one Anchor Handling Tug Supply (AHTS) vessel, MV ARTEMIS.

Purpose: Support petroleum operations on the east coast of India.

Counterparty

Awarding Entity: Hardy Exploration & Production (India) Inc., on behalf of itself and its joint‑venture partners Oil and Natural Gas Corporation Limited (ONGC) and Invenire Petrodyne Limited.

Country: India

LEI/ CIN: F01311

Relationship: Not a related‑party transaction; the counterparty is not an Indian listed entity nor part of any listed group.

Financial Scope

Contract Value: ₹126.12 crore (inclusive of 18 % GST).

Basis: Contracted day rates excluding fuel and fresh water.

Tenure & Execution

Firm Charter Period: 1,825 days (5 years) from the date of mobilisation (18 June 2026).

Extension Option: Up to an additional 1,825 days at the charterer’s discretion, in tranches.

Execution Date: 18 June 2026.

Transaction Characteristics

Domestic Transaction: Yes.

Ordinary Course of Business: Yes.

Promoter/Group Interest: None.

Significance for Investors

Revenue Outlook: The five‑year charter secures a steady revenue stream of approximately ₹126.12 crore over the contract period.

Strategic Fit: Enhances ABS Marine’s utilization of its AHTS fleet and deepens engagement with major Indian oil & gas players (ONGC).

Risk Profile: The deal is non‑related‑party, domestic, and executed under standard commercial terms, indicating limited regulatory or conflict‑of‑interest concerns.

All information presented is extracted directly from the company’s XBRL announcement dated 19 June 2026.