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Thursday, December 5, 2019

Cochin Port Trust News

Image: Cochin Port Trust

Cochin Port to Roll-out New Cruise Terminal

A new Cruise Terminal having facilities to handle 5000 tourists will come up at Ernakulum Wharf of Cochin Port, India by February 2020. Cochin Port Trust has issued work order to the contractor today for commencing the construction of the new Cruise Terminal.The facilities inside the Terminal, having 2253sq mtrs area, would include passenger lounge, crew lounge, 30 immigration counters, 8 customs clearance counters, 7 security check counters, Wi-Fi, tourist information counter…

The Indian Minister for Shipping Nitin Gadkari addressing at the foundation stone laying ceremony of the International Ship Repair Facility of Cochin Ship Yard Limited, at Cochin, Kerala on November 17, 2017. Photo: PIB

International Ship Repair Facility at Cochin Shipyard

The Minister of Shipping in India,  Nitin Gadkari has said that Cochin is all set to become a global ship repair hub. He was speaking at Cochin, after laying the  foundation stone for a INR 970-crore (USD 148 million) International Ship Repair Facility (ISRF) for Cochin Shipyard Limited. The facility is being built at Cochin Port Trust where CSL has leased out a 40-acre plot for the project. The International Ship Repair facility will be a State of the Art facility that can handle a major chunk of small and medium sized vessels plying in India.

Pic: Cochin Shipyard Limited

Wartsila India Signs Pact with CSL

Wartsila India, the Indian arm of Finland-based Wartsila Corporation, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Ltd (CSL) for setting up a containerised self-sufficient workshop. As per the MOU, Wartsila plans to locate a containerised self-sufficient workshop within the premises of CSL to cater primarily to propeller blade metallurgical repairs and engine component repairs. Wartsila also plans to support CSL with comprehensive engine services, propulsion services and electrical and automation services based on the requirements, said a press release.

Pon Radhakrishnan, Union Minister of State for Road Transport, Highways and Shipping, Government of India. Photo: Official Twitter Page

Indian Ports to Introduce RFID System

India's  all major ports have been asked to put in place the RFID system to ensure real-time tracking of vehicles and men at ports. "All major ports have been directed to implement RFID (Radio-Frequency Identification) system by March 31, 2017. Implementation of RFID system will eliminate manual checking of documents at port gate and ensure real-time tracking of movement of vehicles, men and materials," Minister of State for Shipping Pon Radhakrishnan stated. This would reduce congestion and also cost of operations at Ports, he said.

DP World and Emirates Shipping Line launch Galex Shipping Service - Vessel berths at ICTT

DP World, Emirates Shipping Launch GLX

DP World and Emirates Shipping Line (ESL) today announced the launch of a new shipping service GALEX (GLX), a consortium of four vessel operators – ESL, KMTC, RCL and Hanjin. GALEX consists of seven vessels with a capacity of 6,500 TEUs each and reinforces Cochin Port’s position as a transshipment hub with state-of-the-art facilities available to customers. The announcement coincides with the maiden call of a GALEX service at the International Container Transshipment Terminal (ICTT), Cochin today.

India's first indigenous aircraft carrier Photo: Cochin Shipyard Ltd.

Cochin Shipyard Gears Up for IPO

India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources, CSL is all set to file documents for its IPO of Rs 600 crores ($90 million) with the Securities and Exchange Board of India (SEBI). The plan is part of its effort to expand and construct larger vessels and also undertake ship repair and fabrication. In addition, the government will sell 10% of its stake through the IPO.