Greatship Global Offshore Services Pte Ltd a Singapore incorporated subsidiary of the Great Eastern Shipping Company Ltd's subsidiary Greatship (India) Ltd, had signed contracts for two new building Multipurpose Support Vessels (Builder's Yard No.26775 and 26784) with Mazagon Dock Limited, Mumbai in September 2007.

GGOS had earlier cancelled the shipbuilding contract for one of these Multipurpose Support Vessels, with Builder's Yard No.26784.

The company has now cancelled the shipbuilding contract for the second Multipurpose Support Vessel with Builder's Yard No.26775. The said cancellation is disputed by the Yard.

With this cancellation, the order book of GIL and its subsidiaries stands at 4 vessels and one 350 feet jack up rig in Dubai. The 4 vessels comprise of 3 ROVSVs in Sri Lanka and one 150 TBP AHTSV in Singapore.

(Sourced from Equity Bulls)