Marine link
 

INDIA: Big Plans To Acquire Ships, Aid Shipbuilder

India Shipping Corp. Plans To Spend $1.3 Billion To Buy 44 Ships In the next five years, Shipping Corp. of India plans to buy 44 vessels totaling 1.95 million dwt, the country's Surface Ministry reported. The ministry estimates the total cost to be $1.3 billion. The increased capacity is reportedly needed to meet the country's increasing demand for crude oil imports, and also to deal with a sharp rise in waterways trade. The company currently has a fleet of 29 crude oil tankers.

Shipping Corp. Tanker Deal Given Greenlight The Indian government reportedly approved a proposal by stateowned Shipping Corp. of India to buy two crude oil tankers from Halla Engineering and Heavy Industries for $42.1 million each. The Aframax tankers will be designed with a capacity of 110,000 dwt each.

Aid Package Announced For Shipbuilders India also announced an aid package for its shipbuilding industry — a package which includes a hefty five-year, 30-percent subsidy The measure is intended to help bring the country's shipbuilding prices down to competitive world levels.

The Surface Transport Ministry said in a statement that the plan stipulates that the government would pay a 30 percent subsidy to the yard over and above the international price of the vessel.

The ministry is reportedly encouraged by a capital restructuring plan at Cochin Shipyards Ltd., and had approved a similar package for Hindustan Shipyard Ltd. It announced that the government was writing off 4.7 billion rupees ($130 million) of government loans and interest, and converting 1.2 billion rupees of debt into equity as part of the package.




Shipbuilding / Vessel Construction History

Bender Shipbuilding Proposal Selected For Maritech Fundin
BENELUX: Carving IPs Niche
BUYING INTO THE FUTURE U.S. Industry Is Changing To Compete
Chesapeake Shipbuilding Launches New Vessel
DEFENSE CONVERSION ACT
DOT/Industry Partnership Results In $37 Million In Cooperative Agreements
Eletson Tanker Takes Shape At NNS
Expansion Via Acquisition
German Marine Equipment Manufacturers As Driving Forte In Technology And Cost Efficiency
German, U.S. Ties Strengthened Via SMM Partnership
Gladding-Hearn Builds Whale-Watching Cat
Increasing Orders Put South Korea Ahead Of The Competition
Intergraph Expands Capabilities For Ship Design And Production CAD/CAM Systems
Kockums To Launch New Generation Of Shipbuilding Systems
Kvaerner, Daewoo Calling It Quits In Shipbuilding Businesses
Lucent Technologies Gets Contract With Chinese Shipbuilder
Mapping The Future Of Design
MarAd News
McDermott, Shipbuilding Ventures Inc. Sign Agreement To Build Product Carriers In U.S.
New facility broadens Dutch yard's scope
Newport News One Of Two Finalists For Sabine Double- Hull Refit Contracts
Norwegicm Innovation Sburs Commercial Success
Peterson Builders Elects New Chief Executives
Pragmatic Research
Ship Orders Unhalted By Industrial Unrest
Shipbuilding In the BENELUX Countries
Siemens Podded Electric Drive Provides Operational Advantages
Strategic Value Added: Navy-Industry Cooperation for the Future
That's The Way It Is
Vickers Shipbuilding Upgrades Software Capability
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright