ABG Shipyard`s Orderbook Rises

Karvy recently met the management of ABG shipyard and had a plant visit to their Surat shipbuilding facility. The company is an established manufacturer of a variety of marine ships, including bulk carriers, deck barges, interceptor boats, anchors handling supply ships, diving support ships, tugs and offshore vessels. Till date, the company has constructed and delivered around 93 vessels and has delivered three modern specialized Newsprint Carriers to Lysline, Norway. The report from Karvy mentions that the company is setting up a ship building facility at Dahej (150 km from existing yard) to strengthen its presence in the global ship building industry and is expected to be commissioned in Q1FY 2009. ABG Shipyard has recently secured an order worth about Rs 1000 million for construction of a diving support vessel from Vroon Offshore B V, The Netherlands. The company is already building two vessels for Vroon Offshore. Source: IRIS Exclusive