ONGC's vessel tender: Indian majors on list

The contract will generate revenue of $25,700 per day for companies.

Leading Indian shipping majors have been shortlisted by the Oil and Natural Gas Corporation (ONGC) for its mega tender for 30 offshore support vessels.

Great Eastern Shipping-promoted Greatship India (GIL), GE Shipping's demerged entity Great Offshore (GOL), Essar Shipping-promoted Tag Sea Logistics, Gareware Offshore, ABG Shipping and state-run Shipping Corporation of India (SCI) are on the shortlist. The contract will be awarded by Monday following negotiations.

GIL has emerged as the lowest bidder in three categories out of four, while GOL has emerged as the lowest bidder for four vessel categories out of the five offered by it. Gareware quoted for two and bagged both.

The mega tender means revenue of $25,700 per day for these companies. The contract will be for three to five years. The Indian oil and exploration major had invited bids for offshore support vessels (OSVs), including anchor handling and tug supply vessels (AHTSVs) and platform supply vessels (PSVs).

GIL, GOL, SCI, Varun Shipping, Crown Maritime India, Garware Offshore, Tag Sea Logistics and ABG Shipping were the Indian companies that bid for ONGC's tender.

Swire Pacific, Emas Offshore, Halul Offshore, Rolv Berg Drive A/S, Tidewater Marine International and Noble Discovery Drilling Technologies are the shortlisted overseas companies.

Shortage of vessels has led Indian shipping companies to charter foreign vessels for the mega tender.

For instance, state-run SCI has four foreign vessels out of the 14 offered by it. GE Shipping's offshore arm has 14 chartered foreign ships out of a total 16. GE Shipping's demerged business entity GOL has chartered two vessels for the mega tender.

"This means domestic companies are finding it difficult to acquire OSVs or raise funds for acquisition. This is why they are trying to capitalise on opportunities with the help of foreign tonnage," an industry analyst said.

---

RACE HOTS UP

Domestic companies shortlisted include Great Eastern Shipping-promoted Greatship India, GE Shipping's demerged entity Great Offshore, Essar Shipping-promoted Tag Sea Logistics, Gareware Offshore, ABG Shipping and Shipping Corporation of India

Overseas firms include Swire Pacific, Emas Offshore, Halul Offshore, Rolv Berg Drive A/S, Tidewater Marine Interna-tional and Noble Discovery Drilling Technologies

ONGC had invited bids for offshore support vessels, including anchor handling and tug supply vessels and platform supply vessels

Greatship India has emerged as the lowest bidder in three categories out of four

Great Offshore has emerged as the lowest bidder for four vessel categories out of the five offered by it

Gareware quoted for two and bagged both