Garware Offshore Services Limited, a leading offshore vessel owner cum operator, has signed an agreement for the acquisition of a Havyard 832 L SE Multipurpose Platform Supply Vessel (MPSV) at approximate cost of USD 55 million.

The new MPSV, which is scheduled to be delivered in the third quarter of FY 2011, is a state of the art vessel.

While commenting on the contract, Mr. Aditya Garware, Vice Chairman and Managing Director, Garware Offshore, said “As part of our growth strategy we are consistently looking at opportunities of fleet growth. This new acquisition is aligned to this vision of the Company”.

The new vessel is DP2, FiFi1 and has CLEAN Notation, capable of performing in harsh environments like the Arctic waters.

The vessel will have an optional Moon Pool (used for ROV Operations); the hull will be strengthened for fitment of an Offshore Heave Compensated Crane; fitted with SCR (Selective Catalyst Reactors) for reduction of NOx, SOx emissions and accommodation for approx. 50 persons.

Garware Offshore Services Ltd was promoted by the late Padma Bhushan Shri b. D. Garware, founder of the Garware group of companies.

The company is a public limited company with over 30,000 shareholders and is listed on the Bombay Stock Exchange and The National Stock Exchange.