- ABS Marine Services Limited (NSE: ABSMARINE) secured a time‑charter for its AHTS vessel MV ARTEMIS, worth ₹126.12 crore (incl. 18 % GST), signed on 18 June 2026.
- The charter runs for 1,825 days (5 years) with an optional equal‑length extension, delivering an estimated ₹126.12 crore revenue stream over the contract period.
- Counterparty is Hardy Exploration & Production (India) Inc., on behalf of itself, Oil and Natural Gas Corporation Limited (ONGC) and Invenire Petrodyne Limited – a domestic, non‑related‑party transaction.
- Rates are based on day charges excluding fuel and fresh water, and the deal is classified as an ordinary‑course‑business domestic transaction with no promoter or group interest.
The new 5‑year time charter adds a steady revenue stream and deepens ties with ONGC, which should lift ABS Marine’s share price modestly. Expect a small upside in the near term that may taper off as the news is priced in.
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Forecast from comparable, historic events. Not investment advice.
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