India's Varun Shipping Company has signed charter contracts with Brazil's Petrobras for three anchor handling towing and supply vessels (AHTS), 'Suvarna', 'Subhiksha' and 'Sudaksha'.
The initial time charter contracts are for a firm period of four years with an extension option in favour of Petrobras for another four years.
The total contract value estimated for the firm period is IR6.9 billion (US$153 million).