Bhagwan Marine Limited
BWN.AX
Australian Securities Exchange0.33
AUD
-0.01
- -
Bhagwan Marine Limited
BWN.AX
(Australian Securities Exchange)
Recent
price
0.33
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Bhagwan Marine Limited (ASX:BWN) operates as a leading Australian marine services company, owning and chartering a diverse fleet of over 95 vessels including dive support vessels, tug boats, multi-cats, utility vessels, barges, crew transfer boats, anchor handling tug supply vessels, landing craft and specialist offshore assets; it provides marine solutions across ports, nearshore, offshore and subsea locations to industries such as oil and gas, subsea, renewables, civil construction, marine logistics, resources and defence. The company offers core services encompassing harbour towage, crew transfers, ROV support, air dive support, geophysical and geotechnical surveys, metocean equipment deployment, mooring installation and maintenance, navigational aids, vessel line handling, general underwater construction, offshore accommodation, FPSO offtake assistance, dredging, decommissioning, light construction and infrastructure support for bridges, ports and jetties. Founded in 2000 by the Kannikoski family and headquartered at Level 3, 251 St Georges Terrace, Perth, Western Australia, Bhagwan Marine employs over 900 personnel nationwide and primarily serves blue-chip clients including multinational oil and gas firms, mining companies, port authorities and government organizations across Australia. In recent developments, Bhagwan Marine secured a two-year contract extension valued at approximately A$25 million with Jadestone Energy and Vermilion Energy for marine, cargo and offtake support using the CMV Athos at the Stag and Wandoo platforms; it also obtained a six-year extension of its cornerstone contract with the Port of Melbourne through to 2030 and a five-year contract with Chevron for Wheatstone Platform services. The company achieved record FY24 revenue and earnings exceeding prospectus forecasts, driven by diversified demand and entry into decommissioning, followed by strong FY25 performance with net revenue of A$283 million, including the acquisition of the Coral Knight supply vessel and investments in fleet electrification. Additional strategic moves encompass listing on the ASX in 2024 raising A$80 million for growth, appointment of Mark Annand as COO in May 2025, progression into offshore wind and defence sectors, and a Chevron decommissioning contract via partnership with Linch-pin.