OSL Kochi

completed

SPSL, a wholly owned subsidiary of OSL, has been awarded a 17-year contract by Petronet LNG Limited (“Petronet”) to provide port services at Petronet’s upcoming LNG terminal at Kochi in the state of Kerala in southern India. OSL is the leading Indian provider of comprehensive port management services such as harbor towage, mooring, pilotage, ship-to-ship transfer of cargo, and control tower operations. Ocean Sparkle operates a fleet of 81 vessels spread across 22 locations in India and has been providing port management services at the Dahej terminal since 2004 (via a group company, Sealion Sparkle) where Petronet has an operating LNG Terminal. As part of its contract with Petronet, SPSL will: purchase and deploy 4 tugboats and 1 other marine craft at Kochi; and provide personnel for Petronet’s port operation services including for operation and maintenance of tugs and marine craft, mooring crew, tug and marine craft crew, engineers, radio officers etc. (“Project”). IFC is considering providing a loan to part finance the Project.