year has been committed against contract of affreightment and time charters undertaken. The company is also implementing rationalisation of expenditure which should result in improved performance in 1990-91. The company signed agreements to purchase five offshore supply vessels (OSVs) in 1989-90 which would be absorbed in the ONGC and OIL circuit. The company intends to acquire further OSVs and specialised vessels for the growing needs of the oil industry.