Dolphin plans to foray into light rig operations

Marine operation and construction major Dolphin Offshore Enterprises (India) plans to get into providing coast-to-coast shipping, light rig operations and harbour management services, targeting a 25-30 per cent increase in revenues.

Dolphin Offshore intends to commence the services through its subsidiary Procyon Offshore Services, a company that owns ships and barges.

Confirming the development, Dolphin Offshore Joint Managing Director Navpreet Singh said, "We see a huge opportunity in these emerging services and are looking to commence the services within a year or so."

"The plans are still at the drawing board and we need to conceptualise and get regulatory and other approvals before the idea can take off. We would look at entering into working relations with companies who need these services," he added. The services will be operational along with its present services. A BSE-listed company, Dolphin Offshore Enterprises undertakes offshore and onshore oil and gas construction activities, and provides support vessels and barges.

According to industry analysts, the coast-to-coast shipping industry is alone estimated to be worth around Rs 1,000-1,500 crore. In this industry, goods are proposed to be moved from one coast of the sub-continent to another, which is economical compared with movement of goods by road.

Light rig operations (providing rigs to move goods to ships and oil platforms among others) and harbour management services (mainly providing tugs) are new sectors for which the industry size could not be ascertained.

Dolphin Offshore is also moving into shipbuilding activities, jointly with the Gujarat Maritime Board, and has acquired 200 acres of land at Jafrabad in Gujarat.

The company, which is awaiting regulatory clearances, intends to build small vessels of up to 100 metres.