Toubro Ltd News

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.

GAIL India will offer foreign shipbuilders five years to make liquefied natural gas (LNG) carriers in India, double the time allowed to deliver ships from their home shipyards, reports Economic Times. Report says that the company is insisting foreign shipbuilders to build in India at least a third of the 11 LNG carriers. It also plans to charter carriers from one or more shipping lines. GAIL hopes this concession will attract foreign firms to locally manufacture ships proposed to be chartered by the Indian gas company. Earlier in February, GAIL had floated a tender for the purpose in February but scrapped following no response from foreign companies.

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.

Leading industrial and marine coatings supplier Hempel is building a strong presence in the Indian subcontinent Hempel, one of the world’s leading industrial and marine paint suppliers, is expanding its operations in the Indian subcontinent. With the opening of a new manufacturing unit in Nashik, Maharashtra, Hempel is strengthening its manufacturing capabilities and presence in the Indian subcontinent. The company also plans to invest approximately EUR 15-20 million in a greenfield project over a period of three years. Expansion in the Indian market is an important element within Hempel’s business strategy, One Hempel – One Ambition.

According to a report from the Wall Street Journal, Larsen and Toubro Ltd has deferred its entry into the commercial shipbuilding business and has also decided to scale back its investment for a new shipyard at Kattupalli near Chennai. (Source: Wall Street Journal)

The ministry of shipping is considering reviving subsidy on shipbuilding to enable the industry to be globally competitive. Currently, ’s share of global shipbuilding orders stands a minuscule 1percent. The subsidy scheme had expired on August 14, 2007. T R Baalu, Union minister of shipping, road transport and highways, said the ministry is thinking of circulating a cabinet note on subsidy this week. The previous subsidy scheme provided a 30% incentive on the contract value of ocean-going merchant vessels more than 80 metres in length sold to Indian companies, and on all ships sold to foreign firms. A report by audit and consultancy KPMG on shipbuilding subsidies across the globe last year showed that Indian yards suffer a minimum cost disadvantage of 32-37% on the price of a typical ship.

Larsen and Toubro Ltd (L&T) has won a contract valued at about $240m to build four specialized ships for Dutch company RollDock BV. Indian companies are currently building about 245 ships worth more than Rs20,000 crore. Of this, about 70% are for overseas clients, who are placing orders at Indian yards as shipbuilding facilities in maritime strongholds such as , and are fully booked till 2011. Each ship will cost about $60m to build. These will be built at L&T’s shipyard at Hazira in and would take the firm’s order book to 12 ships. The Mumbai-based company launched its shipbuilding venture in May 2006 with an order for building four ships valued at Rs440 crore from Rotterdam-based Zadeko Ship Management CV (now known as ).

India’s biggest engineering and construction firm, Larsen and Toubro Ltd, is in talks with a Dutch shipowner for a new building contract valued at more than $100 million according to the Wall Street Journal. New orders: Larsen and Toubro’s employees shift a 20-tonne ship part in the company’s shipbuilding yard in Hajira. L&T is negotiating with a Dutch shipowner for a new shipbuilding order. L&T is currently building eight ships valued at about Rs1,150 crore. These comprise six for RollDock and two from BigLift Shipping BV, also of the Netherlands. L&T launched its shipbuilding venture in May 2006 with an order for building four ships valued at Rs440 crore from the Rotterdam-based shipping firm Zadeko Ship Management CV (now known as RollDock BV).

India’s largest engineering and construction firm Larsen & Toubro Ltd. (L&T) is negotiating with global shipping fleet owners to build ships worth over $1b, but the company cannot finalize these orders because it still hasn’t received the requisite clearances for its shipyard from a local government. L&T plans to set up the country’s biggest shipbuilding facility at Kattupalli in Tamil Nadu in an effort to tap growing domestic and global demand for ships. The company will invest around Rs3,000 crore in the shipyard and port project and will build cargo ships, warships and offshore oil rigs. The shipyard at Kattupalli will be capable of building 25 big ships in a year and repair another 50-60 ships.

Gujarat, India’s top maritime state by cargo handled at state-owned ports, is finalizing a shipbuilding policy that has set an ambitious target to grab more than half of the country’s shipbuilding market by 2020, an official at the western state’s maritime regulator said. The state will be the first in the country to have a separate policy on shipbuilding. A draft policy prepared by the government seeks to extend tax holidays to shipbuilding projects for five years. Such projects will also be entitled to the same fiscal and duty benefits as those granted to so-called special economic zone (SEZ) projects of the Union government, said G.R. Jadega, technical adviser to the Gujarat Maritime Board.

Larsen & Toubro Ltd (L&T) has announced that the Company laid the keel for the first ship within 17 weeks of commencing operations at its shipbuilding yard at Hazira, near Surat. A 180-ton keel block - the heaviest ever by an Indian Shipyard - was ceremonially placed on the erection bay at the company's Hazira Shipyard. The Customary keel block lowering was done by Meindert Van Genderen, Director, Rolldock, Netherlands. Detailed expansion plans for the Hazira Shipyard involve expanding capacity to construct 8 vessels up to 20,000 dwt per annum. The Company also plans to set up large shipyards of international standards in India. The…

Oil & Natural Gas Corporation (ONGC) has awarded a project order with Larsen & Toubro Ltd (L&T) for the NQ re-construction (NQRC) Project in Mumbai High North fields, according to Domain-b. According to the report, this project is the largest brownfield project of its kind awarded in the offshore oil and gas sector in India. The NQ Complex, one of the oldest assets owned by ONGC, has been operational since 1985. The project comprises reconstruction of offshore facilities at the NQ Complex including the replacement of the existing booster compressor with a new process gas compressor module, revamp of produced water conditioning system, hot oil system, gas dehydration unit and other utilities.

Construction and engineering firm Larsen & Toubro Ltd (L&T) Thursday bagged a $94.95m shipbuilding contract from BigLift Shipping of the Netherlands. L&T said that it would construct two ships for the Dutch company at the shipyard in its engineering complex at Hazira in Gujarat. L&T, which had forayed into shipbuilding last year, currently builds ships with a displacement of up to 20,000 deadweight MT (DWMT) and also plans to construct a shipbuilding yard for bigger vessels. Source: IANS

Construction and engineering firm Larsen & Toubro Ltd. won a $94.9m shipbuilding contract from BigLift Shipping of the Netherlands. L&T said that it would construct two ships for the Dutch company at the shipyard in its engineering complex at Hazira in Gujarat. L &T, which had forayed into shipbuilding last year, currently builds ships with a displacement of up to 20,000 dead-weight MT (DWMT) and also plans to construct a shipbuilding yard for bigger vessels. Production of the ships is scheduled to commence in June 2008 and the vessels shall be delivered by March 2010. The18,680 dwt vessels measure 154.8 x 26.5 m.

Larsen & Toubro Ltd., an Indian engineering and construction company, said it may sell stakes in its newly formed companies for power, ports and shipbuilding businesses. Source: Bloomberg

According to reports, Indian engineering and construction firm Larsen & Toubro Ltd said it has won a repeat order worth over $70m to build two ships for Netherlands-based RollDock BV. The Dutch shipping company has also signed an agreement that includes options for more vessels of the same series to be built later this year, which will be delivered by May 2010, L&T said in a release. L&T entered the shipbuilding business in April 2006, by securing an order from the Dutch firm. Source: AFX News Limited