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January 27, 2006

ABG Shipyard wins AHT order

India's largest privately owned shipbuilder, ABG Shipyard Ltd., has announced its second export order this month. It is a contract for construction of three 90-ton bollard pull anchor handling tugs from a unit of Lamnalco Ltd., Sharjah, United Arab Emirates.

ABG Shipyard has two vessels currently under construction for Lamnalco at its Surat yard and has previously delivered five vessels to the company, which is a joint venture of Saudi Arabia's Alireza and Boskalis Westminster NV.

The three latest vessels ordered are worth $9.9 apiece bringing the total contract value to $29.7 million. ABG Shipyard says the vessels will be eligible for export subsidies.

They will be delivered at intervals of 20 months, 22 months and 24 months.

On January 16, ABG secured an order for two 18,800 dwt ice strengthened geared bulkers for Finland's ESL Shipping Oy.