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Pipavav Shipyard News

10 Mar 2015

Pipavav, L&T Shortlisted for India's $9.5 billion Submarine Deal

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.

08 Apr 2010

Pipavav Shipyard Fund Raising Plan

According to an April 7 report from Bloomberg, Pipavav Shipyard rose 1.62% to Rs 78.60 at 13:47 IST on BSE after the company's board approved raising up to Rs 178 crore by issuing convertible debentures on preferential basis. (Source: Bloomberg)

26 Jan 2010

SMM 2010

Some 2000 exhibitors and more than 50,000 trade visitors are expected to attend the 24th shipbuilding, machinery & marine technology, international trade fair hamburg (SMM 2010), from 7 to 10 September 2010. This event will attract exhibitors from 50 nations, including the major yards from the leading shipbuilding nations, representatives of the marine equipment industry, and a whole range of small and medium-sized companies. More than 100 new exhibitors from all product areas have been accepted for SMM 2010. In the shipyard sector, for example, the Indian company Pipavav Shipyard Ltd. chose SMM 2010 for its first presentation on the international scene. It is India's largest shipyard, building freighters, offshore vessels and naval ships.

09 Nov 2009

Wärtsilä Ship Design Contract for 12 Vessels

Photo courtesy Wärtsilä Corporation

Wärtsilä, ship power system integrator, has signed a ship design contract with Pipavav Shipyard of India. The contract calls for a total of 12 Offshore Supply Vessels (OSVs) to be designed by Wärtsilä and built by Pipavav, for delivery to ONGC - Oil and Natural Gas Corporation Ltd, which is the largest oil and gas producer in India. The yard is scheduled to begin production of the first seven vessels in the first quarter of 2010. Wärtsilä's strong track record in producing consistently…

11 Oct 2009

Pipavav Shipyard Prospects Tied to Orders

According to an Oct. 9 report from The Wall Street Journal, India's Pipavav Shipyard Ltd. made a muted debut on the stock exchanges. The shares of the shipbuilding, repair and fabrication company opened at $1.30, 3.8% above the offer price of 58 rupees. However, they closed trading 2.1% down at 56.80 rupees, with volume of 50.39 million shares on the Bombay Stock Exchange. (Source: The Wall Street Journal)

26 Jun 2009

ONGC to Finalize Shipbuilding Contract

According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC. (Source: livemint.com)

08 Oct 2008

Shipbuilding Subsidy May be Revived

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.

19 Feb 2008

Pipavav Shipyard in Talks to Set Up Diesel Engines Factory

India’s newest private shipbuilding firm,Pipavav Shipyard Ltd, is the latest in a growing list of firms looking to enter the business of making diesel ship engines in an attempt to meet growing demand for these in India and in other parts of the world, and is talking to two multinational firms for a partnership. Last week, Pipavav Shipyard started work on the first four of 26 Panamax bulk carriers that have been ordered by Norwegian, French and Greek fleetowners for a total of $1.1 billion (Rs4,360 crore). The contract makes Pipavav the world’s second biggest Panamax size shipbuilder by order size after Japan’s dry bulk cargo shipbuilding specialist Oshima Shipbuilding Co. Ltd.

14 Feb 2008

Pipavav Shipyard Wins $1.06b Order

Pipavav Shipyard has won an order worth $1.06bn to build 26 Panamax bulk carriers, making it India's largest shipbuilding order to date. The orders are from Golden Ocean Group, Norway; SETAF, France; and AVGI Maritime, Greece. Source: Money Control

15 Nov 2007

Golden Ocean Resells Six Bulk Carriers

A multinational shipping firm that has signed a deal to have its ships built at an Indian shipyard, which is still under construction, has already sold the ships, an indication of growing demand for ocean-going vessels. This is the first time such a thing is happening at an Indian shipyard. The yard, Pipavav Shipyard Ltd, is under construction and will not start building ships before February 2008. On 19 March, the Bermuda-based Golden Ocean Group Ltd.—the dry bulk cargo ship operating firm controlled by Norwegian shipping tycoon John Fredriksen—had placed orders with Pipavav Shipyard to build four Panamax bulk carriers, each with a cargo carrying capacity of 75,000 tonnes. The agreed price of each vessel was $35.5m. The company also placed an "optional" order for two more Panamax vessels.