Varada Marine are bravely entering the offshore support vessel market at a time when it appears that regardless of the requirements or not for offshore ships, existing players are ordering new vessels. Meanwhile the spot market is full of large ships waiting to do something useful.

As far as can be ascertained they do not have any sort of a track record in shipping, so it looks likely to be an exciting ride for them. They were founded in April 2010 and have the goal "to become one of the largest offshore vessel companies in the world within the next decade" Their first vessel has just been delivered. (February 2011)

At the 2013 review the company has eight moderately sized anchor handlers in service and  a further 10 ships on order all from the ABG yard in India. 

Now a year on, at the 2014 review, no further ships have been delivered although there are 7 anchor-handlers and 3 PSVs on order for deliver in 2015 and 2016

Updated 22nd October 2014.