Greatship: The nine-year path to the top

Mumbai: If it had not been for a difference of opinion between the Sheth cousins over the manner in which Great Offshore Limited should be run, there may not have been a Greatship Limited which, in nine shore years since its launch of operations in March 2006, has become the undisputed No.l offshore services supplier in India. Vijay Sheth, who was basically running Great Offshore, insisted that the company be hived off from its parent, India's largest private sector shipowner, Great Eastern Shipping. Cousins Bharat and Ravi Sheth reluctantly acquiesced to the separation, and Vijay walked off with what was re-named GOL Offshore, while Ravi, Bharat's younger brother, was tasked with setting up a new offshore subsidiary. "There was virtually no time lag between the completion of the court process for divestment, and the launch of Greatship's operations," says the unassuming Sheth, who was given the twin roles of executive director of Great Eastern and managing director of the new entity Greatship. "We started modestly, with the purchase of three secondhand platform supply vessels (PSVs). Had we gone the newbuilding route at the time, it would have been a strain on the company's finances, because, once you build up a fleet, you have overheads."