GRSE will construct four platform supply vessels for ONGC, enhancing its role in commercial and offshore shipbuilding with a ₹10.32 billion contract.
GRSE to Build Four Platform Supply/Support Vessels for ONGC
Garden Reach Shipbuilders & Engineers, a company under the Ministry of Defence of India, has received a contract worth ₹10.32 billion from the energy company ONGC for four platform supply/support vessels. This order strengthens the defense shipyard's push for growth in commercial and offshore shipbuilding.
Garden Reach Shipbuilders & Engineers (GRSE), a public defense shipyard in India, will construct four platform supply/support vessels (Platform Supply Vessel–PSV) for the Oil and Natural Gas Corporation (ONGC). According to a report by the Economic Times based on the company's announcement dated August 3, the total value of the contract is ₹10.32 billion.
It was reported that GRSE submitted the lowest bid at ₹2.58 billion per vessel in the price bids opened at the end of July. Public and private sector shipyards, including Cochin Shipyard, Hindustan Shipyard, L&T Shipbuilding, and Titagarh Naval Systems, also participated in the tender. The company announcement at the beginning of August indicated that the lowest bid phase had been converted into a contract.
Why is the PSV Market Important?
Platform supply vessels transport equipment, spare parts, fuel, water, and other consumables to offshore oil and gas facilities; they can also undertake personnel and emergency response missions when necessary. Details regarding the technical specifications of the vessels, delivery schedule, and propulsion system were not disclosed in the initial announcement.
GRSE operates as a public company with Navratna status under the Ministry of Defence of India. The new order is significant for the shipyard, which has a military vessel portfolio, as it expands its position in commercial shipbuilding and the offshore market. The tender is also highlighted as one of the first major projects resulting from India's announced maritime financing and incentive package worth ₹697.25 billion aimed at boosting commercial shipbuilding.
Maritime Impact: The increase in offshore energy investments is creating a new order cycle for PSVs and similar specialized vessels. This development indicates that Turkish shipyards, which are strong in offshore support vessels, tugs, and specialized tonnage, need to closely monitor the public-supported competition in India.
Source: SeaNews Türkiye
