Indian Firms Eye Shipbuilding

Wednesday, September 26, 2007
Indian firms are increasingly getting into ship building and repairing as shipbuilding orders are expected to rise significantly to meet the boom in seaborne trade and increased offshore oil exploration. The local industry is expected to expand to $20b by 2020 from close to $5b now, a report by maritime consultants i-maritime Consultancy Pvt Ltd said, which is about 1 percent by value of total global shipbuilding orders. Besides subsidies given by the Indian government to local shipbuilders, which is a big incentive, a major part of the world shipping fleet is very old and due for replacement, Chief Financial Officer Dhananjay Datar of ABG Shipyard said. Engineering firm Larsen & Toubro already has one ship building yard in Gujarat state and plans to invest about $378.7m for shipbuilding and a repair yard. Gujarat-based Adani group is setting up a shipbuilding and repair yard at a cost of about $252.5m. Earlier this month, a media report said Reliance Industries plans to spend $2b on shipbuilding and dredging. While shipbuilding steel used to be imported, Indian steel mills have started manufacturing steel plates used in shipbuilding. Essar Steel is already manufacturing shipbuilding steel and plans to increase it with the commissioning of a 1.5-million-tonne plate plant in Gujarat next year. The government provided a 30-percent subsidy on value of ships built by Indian yards, which would sail under a foreign flag. This concession was for a 5-year period to August 2007. The industry hopes this would be extended to help compete with their overseas competitors. This subsidy is also given to certain ships built for the local market. ABG Shipyard and its competitor Bharati Shipyard, which builds sophisticated offshore platform supply vessels, have started building rigs. Asia has the world's largest rig builders -- Keppel Corp and SembCorp Marine. [Source: Reuters]
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

PHA Budgets $ 275 mi for Capital Improvements

In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2023 sec (5 req/sec)