ABG Shipyard bags Mega repeat Orders of over Rs 1000 Crores from existing International Customeres

ABG Shipyard Ltd has informed that Lamnalco Ltd, Cyprus has placed repeat order for 2 vessels amounting to USD 34.20 million. The vessels will be a 53 M LOA 80T B P Azimuthing Production Support Vessel. The vessel is designed to be used for tow / move derrick / lay barge / rigs, tanker handling and berthing with push / pull capability, anchor handling duties, move equipments and materials between barge and shore, external fire fighting, maintenance and pollution control, etc.

The Company has till date constructed and delivered 7 vessels to Lamnalco and further 5 vessels are under construction.

Maridive and Oil Services S.A.E. Egypt has placed repeat order for additional 2 vessels amounting to USD 46 million. The vessels will be a 72M LOA 13OT B P Anchor Handling Tug / Supply Vessels. The twin screw vessel is for operation in unrestricted waters and is designed for multi purpose roles such as anchor handling, towing, transport pipes, fresh water, diesel oil, bulk cement, stores, materials and equipments, move men and materials between platforms and shore, evacuate casualties, external fire fighting and anti pollution control etc.

The first Order was bagged in 2003 for construction of 1 no. Pipelay Barge. And thereafter 6 repeat orders were received for AHTS and Diving Support Vessel.

The Company till date have successfully delivered 3 vessels to M/s. Maridive & Oil Services S.A.E., Egypt and 4 vessels are under advance stage of construction.

Precious Shipping Public Company Ltd THAILAND (PSL) and ESLL, Cyprus has also placed Order for Construction of 5 Nos 54,000 DWT Bulk Carrier at a Contracted Price of USD 184.48 million. The total 54,000 DWT vessels under construction now stands to 12 numbers.

PSL has been recently declared as a Number 1 Shipping Company in the entire World across all sectors of shipping by a leading gloabat shipping publication which is in circulation world wide i.e. Marine Money, New York.

The Company is already constructing 12 Bulk Carriers for PSL.

The Company built ships have earned an envious position in the world market known for their high quality and reliability.

ABG Shipyard - Delivery of Vessel to Maridive & Oil Services SAE Egypt

ABG Shipyard Ltd has informed that the Company has delivered a new Anchor handling tug supply vessel "MARIDIVE — 229" to the owner MARIDIVE & OIL SERVICES S.A.E. Egypt. The Maridive - 229 is the third AHTS vessel delivered to Maridive out of the total seven vessel building orders received from the Egypt based Company.

About the Vessel

The 61 meter 86T Bollard Pull Tug displaces 3,600 Tonnes fully loaded and is able to carry out Anchor handling, Towing Rescue, Offshore Supply, Transport Pipes, fresh water, diesel oil, bulk cement, Stores, Materials and equipment, move men and materials between platforms and shore, external fire fighting and other related duties. The vessel is to supply, support the offshore oil and gas field on a twenty four (24) hour per day basis. This vessel is installed with sophisticated Dynamic positioning capabilities (DP-2) with unmanned machinery space.

ABG Shipyard Ltd

ABG Shipyard Ltd has informed that the Company concludes the order for construction of 12 Handysize bulk carriers of 35000 DWT each from M/s Bereederungsgesellschaft H Vogemann GmbH & Co. KG, Hamburg, Germany for approximately US 360 Million (Rs 1439 Crores Approx). With this order, Company's aggregate order book now stands at Rs 7121 Crores.

The Company and Vogemann were in negotiations for some time through Ship Broking firm M/s Olivier Felter, Germany. This is one of the largest order bagged by ABC and first of its kind from a German Shipping Company. This order was signed on July 03, 2007 and financial closure got concluded now.

Mr. Rishi Agarwal, MD of the Company said "This is a path breaking order and we at ABG are proud to have won this contract against stiff international competition."

Mr. Udo Wiese, Managing Director of M/s Vogemann group commented that with ABG they have joined forces with a first class shipyard. Not least because of excellent cooperation and their expertise we are already considering further new building projects with our friends from ABG.

M/s H Vogemann, established in Hamburg since 1886 currently controls a modern young drybulk fleet of 6 Capsize, 7 Panamax and 6 Handysize vessels and new building order placed on Namura Shipyard, Japan, GSI in China and now with ABG Shipyard in India.

General information about the vessels is as under:

1. Order for - Construction of 12 vessels of 35,000 DWT.

2. Value of the Vessel - US $ 360 million (Rs 1439 crores)

Following this order the order book position of the Company, as on date, stands at about Rs 7121 Crores.