Larsen Toubro News

Konecranes and Larsen & Toubro (L&T) have signed a licensing agreement for the manufacturing and distribution of Konecranes port cranes in India. The first products have been sold under this agreement: two shipyard jib cranes will be delivered to the Cochin Shipyard in Cochin, Kerala province.The agreement between Konecranes and L&T’s Minerals & Metals business unit covers manually operated Ship-to-Shore cranes, Rubber-Tired Gantry cranes and Rail-Mounted Gantry cranes across Konecranes’ brand portfolio. Konecranes shipyard cranes are also included.

Rolls-Royce has acquired Servowatch Systems, a UK-based international supplier of integrated marine automation solutions for navies, commercial vessels and large yachts.Representatives of Rolls-Royce's Power Systems business unit and the company’s previous owner, the Indian engineering, procurement and construction projects, manufacturing, defense and services group Larsen & Toubro, signed the contracts Wednesday. Commercial terms were not disclosed."Servowatch's modern and sophisticated…

India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company, Kattupalli Port is one of the most modern ports in India emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region and provides a whole new dimension of services with speed and sophistication. Amongst the many advantages of Kattupalli port is its unique location – it is located 30 kilometers towards north of Chennai and has connectivity with  hinterland of North Tamilnadu, Chennai,  Bangalore region and South Andhra Pradesh – locations which are highly industrialized.

Subsea services provider Kreuz Subsea said it has been awarded a contract to deliver subsea completion work for Indian multi-national conglomerate, Larsen & Toubro (L&T) from the start of 2018. The contract, worth an undisclosed eight-figure sum, will see Kreuz Subsea support L&T to install all riser clamps, risers, crossing works, tie-ins, subsea trenching and hydro-testing of pipelines which are part of the Oil & Natural Gas Corporation’s (ONGC) Pipeline Replacement Project (PRP4) and Daman Field development projects off the west coast of India.

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has signed an offshore contract for ‘Bassein Development 3 Well Platform & Pipeline Project’ with Oil & Natural Gas Corporation (ONGC). Larsen and Toubro stated in a stock exchange announcement that the contract is valued at approximately 1,483 crores (approximately 229 Million USD). The order, won against International Competitive Bidding, encompasses ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning - for the project. The EPCIC scope of the project includes three new wellhead platforms, 23- kilometer subsea pipeline, composite subsea power cable, clamp-on works on an existing platform and modification work on nine existing platforms in the western offshore basin in India.

The first indigenously built Floating Dock (FDN-2) for the Indian Navy was launched on 20 June 2017 by Smt Anjali Deshpande, wife of Vice Admiral DM Deshpande, AVSM, VSM, Controller of Warship Production & Acquisition at an impressive ceremony at Larsen & Toubro Ltd (L&T) Shipyard at Kattupalli near Chennai. After formal welcome by Vice Admiral B Kannan (Retd), PVSM, AVSM, VSM, Head of Ship Building, L&T the ceremony commenced with an address by the Chief Guest, Vice Admiral DM Deshpande, AVSM, VSM, Controller of Warship Production & Acquisition. Thereafter in accordance with the traditions, Smt. Anjali Deshpande applied ‘Kumkum’ on the Floating Dock. She wished the dock good luck and launched the vessel.

Subsea affiliate of Singapore's Ezra files for U.S. A subsea and offshore contractor affiliate of Ezra Holdings Ltd, a struggling Singaporean oilfield services firm, filed for U.S. bankruptcy as it ran short of cash due to a lingering downturn in the oil-and-gas industry. The affiliate, Emas Chiyoda Subsea Ltd, said in court papers filed in Houston that the company was suffering from weak demand for its subsea contracting work and tightening credit conditions. Ezra has said it may have to take a $170 million writedown on the value of its investment in Emas Chiyoda.

RollDock Shipping B.V. (part of the Roll Group) confirmed the purchase of their 7th vessel, the MV RollDock Sky. This is the third semi-submersible multipurpose heavy lift vessel bought from Larsen & Toubro India. She will go directly into service after some upgrades. After RollDock and L&T ended their cooperation in 2013, L&T continued building a third semi-submersible multipurpose heavy lift vessel. During visits to the L&T yard by RollDock staff, RollDock was impressed by the quality and progress. Despite moderate market conditions, the Management, Supervisory Board and Shareholders decided to purchase the vessel and to name her MV RollDock Sky. The MV RollDock Sky is a sister vessel to MV RollDock Sun and MV RollDock Sea.

McDermott International, Inc. (NYSE: MDR) signed a long-term exclusive agreement with L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, focused on subsea projects offshore the east coast of India. “This exclusive agreement further strengthens the relationship between McDermott and LTHE, both companies that have successfully cooperated on several earlier projects in India and, more recently, won the Vashishta deepwater development project,” said David Dickson, McDermott’s President and CEO.

Larsen & Toubro (L&T) announced it has entered into an in-principle agreement with Adani Kattupalli Ports Private Limited (AKPPL), a subsidiary of Adani Ports and Special Economic Zone (APSEZ), for the sale of Kattupalli Port in Tamil Nadu on India’s east coast. Kattupalli, a deepwater port with an international container terminal located 35 kilometers from Chennai, Tamil Nadu, and well connected to the hinterland, began commercial operations in January 2013 It features two berths…

ServoCore, the commercial-off-the-shelf alarm, monitoring and control solution (AMC) Servowatch Systems introduced last year, has received type approval from classification society Lloyd’s Register. U.K.-based Servowatch, a business unit of the Electrical & Automation division of India’s Larsen & Toubro, adapted the technology inherent to its bespoke automation and integration solutions supplied to the naval sector to meet the commercial requirements of the merchant shipping industry.

The Indian Navy will soon invite tenders for building six conventional submarines after a high-level committee of the Defence Ministry submitted its report identifying shipyards capable of executing the about $10.1 billion project. Besides the state-run shipyards, private players like Larsen & Toubro (L&T) and Pipavav Defence & Offshore Engineering Company, in which Anil Ambani-led ADAG has announced its decision to pick up a controlling stake, are eyeing the mega deal. Defence sources had earlier said both L&T and Pipavav are strong contenders, besides the state-run Mazagon Dockyard Limited (MDL). According to defence sources, the Committee has visited all the shipyards in the country and has submitted its report recently. It is under consideration of the Defence Ministry.

India's top government committee has selected five Indian shipyards to compete for an Rs 64,000-crore ($10.1 Bln) project to build high-tech submarines for the navy. The Indian Navy will soon invite tenders for building six conventional submarines after a high-level committee of the Defence Ministry submitted its report identifying shipyards capable of executing the project. “The Committee has visited all the shipyards in the country and has submitted its report recently. It is under consideration of the Defence Ministry,” defence sources said. Six advanced submarines will be built under project P-75I. Besides the state-run shipyards…

India's Adani Group is likely to take over the operational and management control of Larsen & Toubro (L&T) Kattupalli International Container Terminal near Chennai, reports Business Standard. Adani is in the final stage of getting into an arrangement with L&T to take over the terminal, which the Mumbai-based construction and engineering major built at a cost of Rs 4,000 crore ($645 million). It is learnt that the AP Moller–Maersk Group, a Danish business conglomerate, is also in the race to acquire the container terminal operations of the Katupalli port. Adani Ports and Special Economic Zone Ltd is evaluating the option of taking over the operation and maintenance of other ports too. Also on its radar are ports in Gangavaram, Andhra Pradesh, and Karaikal, Puducherry.

India's state-owned Cochin Shipyard Ltd (CSL) has entered into a Memorandum of Understanding (MoU) with Korean firm Samsung Heavy Industries for technology partnership in constructing liquefied natural gas (LNG) carrying vessels, reports local media. “Cochin Shipyard has signed an agreement with Samsung Heavy Industries to collaborate on building LNG ships,” a shipping ministry official said. The MoU, which was inked after protracted negotiations will enable the city-based public sector yard to respond to a tender for LNG carrier construction soon-to-be-re-issued by GAIL (India). An earlier tender issued by GAIL (India) in this regard was cancelled in February this year after it failed to elicit any response.

ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint. With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers. The Shipyard is preparing for a tender set to be issued by GAIL (India) Ltd for hiring nine new LNG ships that will haul gas from the US from December 2017. “We have signed an agreement with GTT for technology transfer for building LNG ships,” a spokesman for ABG Shipyard said. GTT, one of the world’s top designers of containment systems, which does not own a yard…

Larsen & Toubro (L&T) and Pipavav Defense & Offshore Engineering have won $9.5 billion contract to build six diesel submarines with Air Independent Propulsion System (AIP) technology for Indian Navy, says government of India sources. According to highly-placed sources, a high-level committee headed by vice-admiral Subhedar, which had inspected both public and private shipyards to shortlist candidates to issue the request for qualification (RFQ) for Project 75i, in its final presentation to the ministry of defence (MoD) last week, selected the two private sector shipyards — L&T’s Katupalli yard and Pipavav unit. “Project 75i, as we call it, is for purchasing six next-generation submarines with air independent propulsion (AIP) system for the Indian Navy over the next seven-eight years.

Gail India Ltd has scrapped a tender that would have led to the construction of three massive liquefied natural gas (LNG) carriers at Indian shipyards. After postponing tender deadline thrice and also one year later, state-owned gas utility GAIL India Ltd has not found any bidder for its USD 7 billion tender to hire newly-built LNG ships to ferry gas from the US. GAIL's tender to hire nine newly-built liquefied natural gas (LNG) tankers drew a blank due to the government's condition of building a third of the ships in India, officials said. "There was no response from ship owners and GAIL decided not to extend the tender beyond 17 February. The tender has lapsed," a company spokesperson said.

Indian shipbuilders buoyed by a renewed political will, a plan and funding to help the industry recover. It has been a long wait for the 28 shipbuilders in India to finally catch sight of  opportunities to sail back into the better financial waters. The newly elected Narendra Modi’s BJP’s party brought in a strong stable government, the first in nearly 30 years, and has given an unprecedented, massive boost in promoting Indian shipping in its recent Union Budget. Most industry stakeholders consider this to be a very positive and unexpected turn of events, as the previous succession of governments that have been largely unsupportive of all matters maritime, despite the industry crying itself hoarse for a level playing field to enable it to face cut-throat overseas competition.

Servowatch Systems, a U.K.-based business unit of the Electrical and Automation division of India’s engineering giant Larsen & Toubro, said its exhibition stand at SMM in Hamburg this September will be used as a platform from which the global specialist in marine automation and systems integration will launch a suite of new alarm, control and monitoring solutions into the merchant marine market. The company has now standardized its technology to provide a cost-effective, commercial-off-the-shelf solution for the mainstream shipping industry. “The development means that Servowatch technology, which is the technology of choice in the high-tech, high-value naval and luxury mega-yacht markets, can now be easily applied to the industry’s workhorses – bulk carriers, tankers, containerships.

Lift & Shift India Pvt. Ltd. (LSPL) has become the first Indian company to transport and deliver equipment for Reliance Jamnagar expansion J3 project site on behalf of Larsen & Toubro Hydrocarbon (L&T), Hazira unit. A total of 20 columns & reactors were transported and delivered in 4 voyages spread over 60 days from L&T Hazira yard to RIL Sikka jetty and then to RIL J3 site. The shipments were performed using 2 barges Aqua Float (230 class) & AF 250 (250 class). The quipment’s weighed between 100 to 400 tons having diameter of 8 to 9 m and length up to 75 m. The operations were executed with precision, safety and with precise planning such that the equipment’s were loaded in Hazira, rolled on, shipped to Sikka port, rolled off and transported to site and delivered to foundation.

This would be only the second mainboard IPO in Singapore this year. Singapore's IPO market lacklustre in recent years, but oil and gas related offerings find favour in Singapore. A major operator of maritime support vessels controlled by Malaysia's richest man is seeking up to $380 million in a Singapore IPO - a boost to the city-state's stock market which has seen just one other mainboard listing this year. The deal from PACC Offshore Services Holdings (POSH), the largest Asia-based international operator of support vessels for offshore oilfields, comes as Singapore's IPO market has struggled in recent years. Most big-ticket listings in Asia opt for Hong Kong where there is more robust demand from Chinese and international investors.

L&T Construction has won new orders worth `1471 crores across various business segments in November & December 2013. In Power Transmission & Distribution Business, orders valued `686 crores have been received in both domestic & international markets. A major international order was bagged by Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of Larsen & Toubro Limited for construction of a 132 kV transmission line and connection of Al-Dawadmi S/S to the 132 kV Riyadh Network. The order includes construction of a 78 km new 132 kV Double Circuit Overhead Transmission Line; 7 km of reconductoring an existing 132 kV OHTL with Special Non-Gap Conductors of high current carrying capacity…