Bhagwan Marine Secures Multi-Year Contract for Riverside Guardian Vessel
Key points
- Contract awarded by a global Tier 1 energy company
- Contract value: minimum $5.8 million, potential $11.6 million
- Contract includes two-year term with two one-year extension options
Full summary
Bhagwan Marine Limited, a leading Australian marine solutions company, has secured a two-year contract with an option for two more years for the deployment of the Riverside Guardian vessel. The contract, awarded by a global Tier 1 energy company, represents a significant milestone following Bhagwan's acquisition of Riverside Marine earlier this year. The contract has a minimum committed value of approximately $5.8 million and the potential to generate up to approximately $11.6 million over the initial two-year term and the two one-year extension options, depending on the client's operational requirements and vessel utilisation.
Guidance
Minimum contract value: $5.8 million, potential total value: $11.6 million
Outlook
The contract demonstrates the strategic value of the Riverside Marine acquisition and supports Bhagwan's strategy to drive organic growth and capture blue-sky growth opportunities.
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