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Board Meeting to be held on January 19, 2009
January 7th, 2009. 
 
A meeting of a Board of Directors will be held on January 19, 2009 for considering inter alia, the Unaudited financial results of the Company for the third quarter ended December 31, 2008.  

Mr. Chandan Bhattacharya is appointed as an Additional Director in the Board Meeting held on December 2, 2008.
December 2nd, 2008. 
 
Mr. Chandan Bhattacharya, around 64 years did his graduation in Bachelor of Arts (Hons.) from Calcutta University and passed CAIIB Examination. He has long 37 years of uninterrupted service in State Bank of India and varied experience in all matters relating to commercial and retail banking, capital markets, merchant banking, mutual funds and factoring apart from insurance and the guilts and securities market at apex level. He has been on the operations forefront with regard to Banking, Trade and Commerce. He has held several distinguished positions and served as Director on the various Boards during his long tenure with State Bank of India. He retired as Managing Director of State Bank of India on 31.1. 2005. After which he joined SEBI Appellate Tribunal as Member in May, 2005 and retired on 12 th January 2007. He is a Senior Advisor of Societe Generale Bank in India. 

Award of charter of around USD 22 million
November 25th, 2008. 
 
The Company has chartered two of its vessels - Malaviya Thirty Three and Gal Ross Sea to Petroleum Marine Services Co., Egypt.

Accordingly, the vessels have commenced operations in the Khafji Oilfields for Saudi Aramco under one year firm charter with option for two more extensions. The aggregate value of the one year firm charter is around USD 22 million.  

Award of charter of around USD 6 million
November 5th, 2008. 
 

Great Offshore Ltd., today commenced a firm charter of 150 days with options for its accommodation and hook up barge and an anchor handling tug for an aggregate amount of around USD 6 million. The assets are chartered by Samsung Heavy Industries Company Limited, Korea which is pursuing development projects for ONGC.


The accommodation and hook up barge was under dry dock during the second quarter of FY 2008-09.

 

Acquisition of 100% equity stake in KEI–RSOS MARITIME LIMITED and RAJAMAHENDRI SHIPPING & OIL FIELD SERVICES LIMITED
November 5th, 2008. 
 

Great Offshore Ltd., today completed all procedural formalities and acquired 100% equity stake in two unlisted companies, viz. KEI-RSOS Maritime Ltd. (KEI) and Rajamahendri Shipping & Oilfield Services Ltd. (RSOS) at an aggregate consideration of around Rs 160 crores.


The profit making companies are based at Hyderabad and Rajahmundry (AP) respectively. For the financial year ended March 31, 2009, the companies being wholly owned subsidiaries of Great Offshore Limited will add to EPS accretion on a consolidated basis.


The companies are in the maritime business of providing offshore support and single point mooring operations by operating a diverse fleet of 19 assets (9 offshore support vessels and 10 harbour tugs). The new building order book comprising 4 vessels are expected to be delivered during the financial year 2008-09.


Additionally, KEI has been awarded contract for providing comprehensive marine operations services for the Gangavaram Port for a period of 12 years.

 


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