The vessel of 1,890 cubic meters hopper capacity was built in Krupp, Germany, in the year 1974 but rebuilt in 2010 and is registered under Bureau Veritas with the inbuilt pump ashore facility which is very crucial for discharge of sand.

The recently acquired asset, River Pearl 18, will be the third TSHD in the fleet of KMEW and has been mobilized from Bulgaria to Bahrain and is ready to be deployed in Bahrain to spearhead the sand mining contracts.

This vessel boasts advanced capabilities, allowing for the efficient extraction of sand from the seabed and seamless transportation over extensive distances. With a projected operational lifespan of approximately 15 years, River Pearl 18 represents a valuable addition to the existing fleet.

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works, said, “It is with great pleasure that we announce the latest addition to our fleet, River Pearl 18, which represents a significant stride towards fulfilling our contracted commitments in Bahrain.

This new vessel brings us closer to the seamless execution of the projects we have secured in the region. Moving forward, we remain dedicated to strategically expanding our fleet by incorporating vessels that align seamlessly with the requirements of our sand mining operations.”

Knowledge Marine & Engg Works is engaged in the business of owning, chartering/hiring along with manning, operation and technical maintenance of marine crafts, dredging and repairs/maintenance of marine crafts and marine infrastructure and allied works in India.

The company's consolidated net profit rose 2.48% to Rs 24.42 crore in H1 FY24 as compared with Rs 23.83 crore in H1 FY23. Net sales declined 12.90% YoY to Rs 106.88 crore in H1 FY24.

The scrip shed 0.84% to currently trade at Rs 1500 on the BSE.