Varun Shipping Company on Wednesday said that it has signed contracts with Petrobras, Brazil, a Government of Brazil undertaking, for three anchor handling towing and supply vessels (AHTS) — Suvarna, Subhiksha and Sudaksha.
The initial time charter contracts are for a firm period of four years with an extension option in favour of Petrobras for another four years, the company said in a statement here.
The total contract value estimated for the firm period is Rs 690-crore and for the extension period is Rs 690-crore. Accordingly, the total contract value works out to Rs 1,380-crore.