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Tuesday, February 19, 2019

Cochin Shipyard Limited News

Photo: Inland Waterways Authority of India (IWAI)

Cochin Shipyard Signs Contract With IWAI For Ten Ro-Ro Vessels

Cochin Shipyard Limited and Inland Waterways Authority of India has signed a contract for roll-on-roll-off (Ro-Ro) vessels. The contract, which entails design, construction and supply of Ten Ro-PAX and Ro-Ro Vessels, is worth INR 1.02 billion (USD 15 mln) plus taxes. These vessels which are capable of carrying Trucks, vehicles etc. and with sitting passengers will be deployed in various strategic locations in National Water Ways 1, 2 and 3. The vessels are conceptualized and fully designed by CSL. They are built to standards under the rules of Indian Register of Shipping.

Images:  Press Information Bureau

Indian Ports Cargo Traffic Up 3.46%

Major ports in India have recorded a growth of 3.46% and together handled 439.66 Million Tonnes of cargo during the period April to November, 2017 as against 424.96 Million Tonnes handled during the corresponding period of previous year. For the period from April- November 2017, nine Ports (Kolkata (including Haldia), Paradip, Visakhapatnam, Chennai, Cochin, New Mangalore, Mumbai, JNPT and Kandla) have registered positive growth in traffic. The highest growth was registered by Cochin Port (17.93%), followed by Paradip (13.13%), Kolkata [incl.

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.

Image: Ministry of Shipping, India

India, Ukraine to Partner in Shipbuilding

A Ukrainian delegation led by its Deputy Minister of Economic Development and Trade Ms. Nataliya Mykolska, met Secretary, Ministry of Shipping Shri Ravikant in New Delhi  to discuss the potential for developing sustainable partnership between the two countries in the area of shipbuilding. Giving an overview of ship building industry in their country, the Ukrainian delegation invited senior officials of the Ministry of Shipping to visit Odessa and Kiev to study the logistic chain and shipbuilding yards in particular.

Indian Prime Minister, Narendra Modi. Photo: PIB

India Government Sops for Ship-Repairing Facilities

In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast  at present in the country.

Indian Shipping Minister Nitin Gadkari. Photo: Official Site of Nitin Gadkari

India Boosts Shipping Industry

The Expansion, modernization and upgradation of shipping infrastructure in India is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo. The Government is committed to provide best possible infrastructure facilities to Indian shipping industry. Cochin Shipyard Limited, a Central Public Sector Enterprise under the administrative control of Ministry of Shipping has a shipbuilding capacity of 1,10,000 DWT and ship-repair capacity of 1,25,000 DWT to cater to the needs of the shipping industry.

Nitin Gadkari, Minister for Shipping. Photo: Govt of India

Maritime India Summit Attracts $12.5 billion Investment

The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc. Some of the major Indian companies who have signed agreements include the Adanis, Jindal, Vedanta, ESSAR, and Shapoorji Pallonji Company.

Image: Cochin Shipyard Ltd

India Seeks Merchant Banks for Cochin Shipyard IPO

Indian Government has initiated procedures for sale of shares of Cochin Shipyard Limited (CSL) by seeking expression of interest (EoI) from merchant bankers to manage the initial public offering (IPO). The listing will involve the sale of some 33.98m shares, of which 22.66m will be primary and 11.33m secondary shares offered by the country, which wants to offload a 10% stake. Cochin Shipyard had a paid up share capital of Rs1.13bn ($16.65m) and a net worth of Rs15.61bn. "The proposed IPO will see the government reduce its stake in the company by 10%.

INS Vikrant. Photo: Indian Navy

India's First Indigenous Aircraft Carrier INS Vikrant Undocked

India has undocked its first indigenously-built aircraft carrier INS Vikrant at a simple ceremony at Cochin Shipyard Limited (CSL) in Kochi, reports PTI. As of this week, the INS Vikrant, with a completed hull and internal structure, is free-floating and will go into static and dynamic trials soon. The ship, built at CSL, will undergo a series of fitment and trial processes before it is ready for propulsion and inducted into the Navy, CSL officials said. "A milestone crossed in shipbuilding IAC INS Vikrant undocked on completion of structural work at CSL…

Rolls-Royce Wins Contract to Supply Water Jets for Indian Coast Guard

Rolls-Royce, the global power systems company, has won a contract from India’s Cochin Shipyard to supply 60 water jets for a new fleet of 20 Fast Patrol Vessels for the Indian Coast Guard. The contract will involve the supply of Rolls-Royce Kamewa 71S3np water jets (three per vessel), and associated equipment including a joystick control system which will enhance the manoeuvring capabilities of the vessels. The 50 metre long vessels, which are currently under construction, will reach speeds of 33 knots and will operate in Indian coastal waters and around island territories.