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FINWIRES

Bhagwan Marine Awarded Two-Year Contract for Vessel Deployment by Energy Firm

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Bhagwan Marine (ASX:BWN) was awarded a two-year contract, with an option for a further two years, by a global energy company to deploy the Riverside Guardian vessel, according to a Thursday Australian bourse filing.

The contract has a minimum committed value of around AU$5.8 million. It has the potential to generate up to around AU$11.6 million over the initial two-year term and the two one-year extension options.

The Riverside Guardian vessel has been operating as a local charter vessel as part of the Riverside Oceanic business.

The firm's shares fell 1% in early trading on Wednesday.

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