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

American Shipbuilding Issociation
Appleton Marine, Inc.
Bender Shipbuilding Proposal Selected For Maritech Fundin
BENELUX: Carving IPs Niche
BUYING INTO THE FUTURE U.S. Industry Is Changing To Compete
Canadian Technology Takes (enter Stage
CVN-76: BEYOND VIRGINIA
Detroit Diesel Computer System To Control Engines On Gladding-Hearn Built Research Vessel
German, U.S. Ties Strengthened Via SMM Partnership
Gladding-Hearn Builds Whale-Watching Cat
Kockums To Launch New Generation Of Shipbuilding Systems
Lucent Technologies Gets Contract With Chinese Shipbuilder
Mapping The Future Of Design
Marinex, Ingalls & Metro Machine Tanker Project Wins MARITECH Funds
McDermott, Shipbuilding Ventures Inc. Sign Agreement To Build Product Carriers In U.S.
McDermott: Blazing A Unique Trail Towards International Business
NEVA '93 The International Shipping Exhibition with Russia and the Republics St. Petersburg, September 14-18
New facility broadens Dutch yard's scope
Newport News One Of Two Finalists For Sabine Double- Hull Refit Contracts
NKK Corp. Launches Icebreaking Patrol Ship
NNS To Develop Construction, Repair Facility In UAE
Norwegicm Innovation Sburs Commercial Success
Pragmatic Research
Premier Steels Helping Shipyards Cut Casts
Siemens Podded Electric Drive Provides Operational Advantages
South Korean Curbs On Shipbuilding To End Amid Controversy
Strategic Value Added: Navy-Industry Cooperation for the Future
Study: U.S. Yards Must Focus On Technological, logistical Improvements To Be Competitive Internationally
USS Inchon Redesignated For N ew Mine W a r f a r e Mission
World Shipbuilding Associations Address Commercial Fleet Safety
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright