BHAGWAN Marine has won a major multi‑year deployment for the Riverside Guardian with an undisclosed global tier one energy company.
A spokesperson for the company declined to name the client, citing confidentiality requirements.
The two‑year contract has options for a further two years.
The award marks a significant milestone following Bhagwan’s acquisition of Riverside Marine earlier this year, demonstrating what it said in an ASX announcement was the strategic value of the transaction and delivering a clear revenue synergy across the combined fleet.
The Riverside Guardian has previously operated as a local charter vessel within the Riverside Oceanic business.
The statement said leveraging Bhagwan’s established customer relationships and strong position in the offshore energy sector, had enabled the company to secure a substantial long‑term deployment.
The contract carries a minimum committed value of approximately $5.8 million, with the potential to reach $11.6 million over the initial term and extension options, depending on operational requirements and vessel utilisation.
Mobilisation is expected to start shortly.
Bhagwan Marine managing director and chief executive Loui Kannikoski said the contract was a tangible demonstration of the strategic intent behind the Riverside Marine acquisition.
“A key objective of the acquisition was to generate revenue synergies by leveraging our customer relationships and market presence to increase volume and utilisation across the combined fleet,” he said.
“Securing a multi‑year deployment for the Riverside Guardian with a global tier one energy company is a clear example of that strategy in action.”
Mr Kannikoski said the company remains focused on organic growth, embedding Riverside Marine and positioning the group to capture emerging opportunities in adjacent sectors.
Bhagwan Marine is Australia’s largest listed marine solutions company, operating a multi‑functional fleet nationally across the offshore energy, resources, ports, inshore and defence sectors.