Global Offshore Services Ltd Share Price

Summary

Incorporated in Sep.76, Global Offshore Services Limited(formerly known Garware Shipping Corporation Limited) was promoted by B D Garware, which belonged to the Garware Group. The Company is involved in the business of Owning, Operating and chartering offshore support vessels. Apart from this, it is providing offshore support services to exploration and production Companies. Its vessels support oil and gas exploration activities as well as offshore projects. The Platform Supply Vessels ( PSVs) owned and operated by the Company and its subsidiary are deployed in India and West Africa.The company came out with a rights issue at a premium of Rs 8, aggregating Rs 9.07 cr, to strengthen its resources for long-term use and meet working capital requirements. In Mar.90, GSCL embarked upon an expansion programme estimated to cost Rs 15 cr to acquire three conventional cargo ships. The trend of increased charter hire earnings continued during the year. The company plans to increase its tonnage and is looking for the right opportunity.The company came out with a rights issue in 1994 at a premium of Rs 12 to finance its modernisation and capital expenditure. The company vessel, M V Shivneri, ran aground in Oct.94 which was declared a constructive total loss by the insurance company.The Company acquired a Platform Supply Vessel (PSV) from a Norwegian Shipping Company during the year 2005. Effective from 16January, 2006, name of the Company was changed to Garware Offshore Services Limited.
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