Great Offshore sets sail on vessel acquisition

DALAL STREET SPIKES

Great Offshore surged 4.79 per cent to close at Rs 480 after the company announced that its wholly owned subsidiary, Great Offshore International has taken delivery of a high-end modern anchor handling tug-cum-supply vessel.

The vessel is performing spot charter operations for Murphy Oil in Malaysia at around $47,000 a day. With this acquisition, the fleet of Great Offshore stands at 41 assets (2 drilling rigs, 27 diverse offshore support vessels, a marine construction barge and 11 harbour tugs).

The stock made an intraday high of Rs 491.40 and a low of Rs 460, with trading volumes of 6,45,536 shares, about 7.6 times the two-week average.