India's ABS Marine Services has entered into a contract to acquire a multipurpose offshore support vessel from the international market to expand its owned fleet.
The company stated the vessel is scheduled to be delivered between April and June 2026.
The company noted that enhancing offshore service capabilities while reducing reliance on third-party vessels remains a central goal of the acquisition.
Increased government activity in opening offshore areas for exploration is also expected by the firm to drive sustained demand for support services.
Managing Director Captain P.B. Narayanan noted, “Entering into this contract marks another important milestone in our journey towards strengthening our owned fleet and offshore capabilities. This addition will enhance our ability to meet evolving client requirements and position us to capitalise on emerging opportunities in the offshore segment.”
For the 2025 financial year, the company reported a consolidated total income of INR1.84 billion and an EBITDA of INR0.55 billion. Net profit for the same period reached INR0.27 billion on a consolidated basis.