Dredging Corporation News

IHC Dredging and Cochin Shipyard have signed an agreement for a design and engineering, hardware and support package for the licensed construction of a Beagle 12 trailing suction hopper dredger (TSHD). The 12,000 m capacity TSHD will be built by Cochin Shipyard for the Dredging Corporation of India (DCI).The new dredging vessel will be used by DCI for safeguarding and improving the accessibility of the ports and waterways of India.Ronald van Son, Director Dredging Custom Vessels at IHC Dredging…

The Union government of India (GoI) has concluded the strategic sale of Dredging Corporation of India (DCIL) to a consortium of four ports Vishakapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust & Deendayal Port Trust.The share purchase agreement was executed between GOI and the four ports on March 08. The government held 73.47 per cent equity stake in the company.Of 73.47 per cent, the Vishakapatnam Port Trust bought 19.47 per cent, Paradeep Port Trust 18 per cent, Jawaharlal Nehru Port Trust 18 per cent and Deendayal Port Trust 18 per cent.Further, the Securities and Exchange Board of India granted exemption to the consortium of ports from making an open offer…

India's three major ports, including Paradip in Odisha, may acquire a stake in Dredging Corporation of India (DCI) based on availability of surplus funds lying with them."In a meeting chaired by Secretary (Shipping) with Chairmen/Chairmen I/C of Major Ports, held on 18th June 2018, the disinvestment proposal of Dredging Corporation of India Ltd (DCI) was discussed," Minister of State for Shipping Mansukh L Mandaviya informed the Parliament."It was suggested that Visakhapatnam Port Trust (VPT), Paradip Port Trust (PPT) and New Mangalore Port Trust (NMPT), based on the availability of surplus fund lying with them may strive to acquire shares of DCI given the linkage of dredging activity with the Ports…

The Government of India has decided to sell off its entire public stake in Dredging Corporation of India (DCIL), said the Minister of State for Shipping Mansukh L Mandaviya. This decision aims to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipments and instill experienced professional management to optimize operations of the DCIL, Indian public sector unit engaged in the business of dredging. The Department of Investment and Public Asset Management (DIPAM) has obtained approval of the Government to disinvest 100% Government of India Equity in DCIL in one go through two-stage auction  process, with the advice of the Transaction Advisor. DCIL does dredging for Indian seaports exclusively.

An MoU was signed  between Dredging Corporation of India (DCI) and National Highways Authority of India (NHAI) for facilitating the supply of sand for highways construction work.    Concessionaires working on highways projects have been facing a shortage of sand at many sites.    The MoU aims to fill this gap by facilitating the availability of sand for these concessionaires.    DCI intends to do dredging operations at locations in South East Asia, generating large volumes of sand.    This dredging will be done for the purpose of obtaining sand. As per the MoU, business intermediaries will ship and store this sand at various ports in India and market it in India.    NHAI will facilitate the process by displaying the availability of sand at various stockyards at the ports.

The government of India is looking to privatize staterun Dredging Corporation of India (DCI). "A proposal for disinvestment of Dredging Corporation of India Limited is under consideration of the Government of India," a government press release said quoting the Minister of State for Shipping and Road Transport and Highways Pon. Radhakrishnan. The proposal is aimed at upgrading technology, improving capability, infusing capital to buy necessary dredgers and equipments and instilling experienced professional management to optimize the operations of DCI. The present stake of the government in the PSU is 73.47%, which would be reduced to 22.47% if the government goes ahead with the stake sale. DCI, the only listed PSU in Visakhapatnam, has a net worth of around Rs 1,500 crore (USD 233 million).

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Development of Inland Water Transport is a priority of the Ministry of Shipping. After the declaration of 106 new National Waterways, in addition to the existing 5 National Waterways, under the National Waterways Act, 2016, the responsibilities of Inland Waterways Authority of India (IWAI) have increased manifold. To ensure the development of the National Waterways in a time-bound and effective manner, the IWAI in the presence of Nitin Gadkari , Hon`ble Minister of Shipping and Road Transport & Highways has signed three separate Memorandum of Understanding (MoU) with Dredging Corporation of India (DCI), Paradip Port Trust (PPT) and Mormugao Port Trust (MPT) on Wednesday, 28th September 2016.

India will sell 5 per cent of its stake in the country's largest dredging company, Dredging Corporation of India (DCI). The government will sell up to 1.4 million shares of face value of Rs 10 each, representing 5 percent of the total paid up equity share capital of the company, through Offer for Sale, DCI said in a filing to the BSE. This will bring up to Rs 57 crore ($ 9 million) to DCI kitty. "The offer shall take place during trading hours on a separate window of the Stock Exchanges and shall commence on August 21, 2015 at 9:15 am and shall close on the same date at 3:30 pm. A minimum of 10 per cent of the size of the offer shall be reserved for retail investors subject to the receipt of valid bids.

In a move to encourage traders to use India's vast 7,500 km coastline for transporting local freight, the country's shipping ministry is formulating a plan to revive several of its 133 nonfunctional ports, reports Economic Times. A concept note for forming special purpose vehicles by Shipping Corporation of India and Dredging Corporation of India with state governments and private operators was prepared by the ministry. The ministry is looking at developing five coastal ports in the next one year itself as part of the plan. To start with, $ 5 million per port would be provided by the government to kick start their development. The state governments should take care of remaining funds in order to provide connectivity to nearby state, national highway or railway station.

Rajesh Tripathi assumed charge as the new Chairman and Managing Director (CMD) of the public sector Dredging Corporation of India (DCI) w.e.f. February 02, 2015. Capt. D. K. Mohanty, Chairman and Managing Director has been relieved from the services of the Corporation w.e.f. January 30, 2015 on attaining the age of superannuation. Previously, Tripathi  was working with the Indian Railways. He held several key positions in the Railways including Project Director of IRCON, Malaysia Railway Project, Chief Engineer of Jammu Kashmir Railway Project. He also worked as Director (Way and works) in Konkan Railway Corporations. Rajesh Tripathi assumed charge as CMD vide Ministry of Shipping, Department of Shipping letter dt. December 04, 2014.

IHC Merwede name and launch the 5,500m³ trailing suction hopper dredger, DCI DREDGE XXI, for the Dredging Corporation of India Ltd (DCI)  at the shipyard in Kinderdijk, The Netherlands. The ceremony was performed by Mrs R Mohanty, the spouse of DCI Chairman and Managing Director Captain DK Mohanty. The DCI DREDGE XXI is the third vessel in a series of three dredgers – including the DCI DREDGE XIX and DCI DREDGE XX – and is being constructed under the dual classes of Lloyd's Register and Indian Register of Shipping.

For enhancing the draft in ports or undertaking major dredging projects, India still relies on foreign dredging giants, a situation not likely to change unless the government comes out with a policy encouraging investment in the dredging industry. European dredging giants continue to make a clean sweep of all major Indian dredging projects, a market condition largely attributed to the lack of an environment conducive to encouraging Indian companies into large scale dredging. In short, there are no parallel “protectionist policies” in place like those that exists in several maritime countries. Big players in the India dredging market…

On Thursday 15 November, the delivery of the 5,500m³ trailing suction hopper dredger, DCI Dredge XIX, took place at Waalhaven in Rotterdam, the Netherlands. The dredger was received by the Dredging Corporation of India (DCI) Manager Mr YSR Murthy three weeks ahead of the contractual delivery date. IHC Merwede’s contract with DCI is for the design, engineering and delivery of the vessel. The company was selected due to its efficiency and reliability in delivering previous orders on time.

Marine transportation services provider, Chuan Hup Holdings Limited (“Chuan Hup” or “Group”), announced that its subsidiary, ACIS Holdings Limited (“ACIS”) has disposed of its entire 10 percent stake in Dredging International Asia Pacific Pte Ltd (“DIAP”) for S$15.2 million. Chuan Hup estimates the net profit before tax attributable to this sale to be S$5.5 million. The cash sale of 6.3 million ordinary DIAP shares, representing 10 percent of the total issued share capital of DIAP, was made to Tideway B.V. (“Tideway”) of the Netherlands. The remaining 90 percent of DIAP is owned by Pacific Dredging Corporation B.V. (“Pacific Dredging”).

VOSTA LMG received a contract from Indian Partner Shipyard Mazagon Dock Limited for the supply of an engineering & components package for a 1500 kW cutter suction dredge (CSD). It is the first time ever that such a Giant CSD will be built at a shipyard in India. The order for this cutter suction dredge has been awarded to Mazagon Dock Limited by Dredging Corporation of India. The large-sized cutter suction dredge is especially designed for dredging rock with an unconfined compressive strength of 40 MPa. It will also have a spud system, which has been designed by VOSTA LMG for hydraulic advance and positioning of the dredge, enabling to operate even in swell. A parallel rope guide, which is tensioned hydraulically reduces load peaks.