Dolphin Offshore zooms on pact with Paxocean Engg for new vessels

Shares of Dolphin Offshore Enterprises zoomed 13% to Rs 106 on the Bombay Stock Exchange after the company said that its overseas arm Dolphin Offshore Enterprises (Mauritius) Pvt. Ltd have entered into a contract with shipyard, Paxocean Engineering Zhuhai Co. Ltd for the construction of two vessels.

The vessels include 400 Men DP3 Accomodation Barge and 150 Men DP2 Offshore Construction Vessel - 85M and the expected delivery of the vessels will be during the second half of the calendar year 2017, the company said in a release.

The share opened at Rs 96 and hit a high of Rs 107. At 3:05PM, over 84,000 shares were traded on both the stock exchanges.