Sep 12: ONGC has finalized the long-awaited deal for three fire fighting and safety vessels for its western offshore assets.
8There is big jump in the day rate from the last time when a TAG Offshore vessel was hired
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It is learned that ONGC had no option but to decide from a single bid for offshore fire fighting and safety vessels submitted by Priya Offshore Pvt Ltd. a 74:26 JV of Priya Blue Industries Pvt Ltd and Hoger Offshore and Marine Pvt Ltd.
 Great Offshore Ltd was the other bidder but it did not confirm vessel availability subsequently when the tender was processed.
 The company had offered three vessels, Priya 23, Priya 25 and Priya 27. All three vessels are being hired, it is learned, at a day rate of $9900, exclusive of service tax.
 ONGC had a bad experience last time around when it tried to hire fire fighting vessels. A Tag Offshore vessel, TAG-6 at a day rate of $ 6625 but the rate was so low that the vessel never got mobilized even after four extensions. In that tender, the L-2 bidder, L-2 bidder, Greatship (India) Ltd, was asked to match the L-1 rate but the company refused, saying that it will not budge from its quoted day rate of $ 8820
 The quote given by Priya is clearly above those distress rates, and the fact that there are no other bidder means that rates are now expected to go up.
 However, Priya's rates are still lower than the last accepted lowest price, that of Great Ship's Malviya-23, by around 30%, sources said