Cochin Shipyard Limited News

Italian based international shipbuilding group Fincantieri said it has signed a memorandum of understanding (MoU) with Indian shipbuilder Cochin Shipyard Limited (CSL) to jointly target opportunities in the Indian defense market.With this agreement, Fincantieri said it enhances its presence in India, providing further momentum to the long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India.Fincantieri also noted it has been following the renewal and expansion program of the Indian Navy’s fleet for some time…

Global ship repair and maintenance services market is expected to grow from USD 18.89 Billion in 2018 to USD 39.93 Billion by 2026 at a CAGR of 7.04% during the forecast period from 2019-2026.According to report published by Fior Markets, the key contributing factors for the market growth are increase in the demand for new ships and activities, shortening of supply chains in ship repair and maintenance services, increased seaborne trade against the backdrop of recent economic boom, increase in the production of vessels.The bulk carriers section is anticipated to remain leading in the global ship repair and maintenance services market with USD 4.12 billion.

Cochin Shipyard Limited (CSL), the largest shipbuilding and maintenance facility in India, announced the Keel Laying ceremony of Marine Ambulance boats being built for the Department of Fisheries, Government of Kerala.Mrs. J Mercykutty Amma,  Minister of Fisheries, Government of Kerala did the honours in a function held at CSL.The formal start of construction of the first of the series of three marine ambulance boats was carried out in the presence of senior officials from State Fisheries Department, BPCL and Indian Register of Shipping. The directors and employees of CSL were also present during the ceremony. The Minister appreciated…

India's Cochin Shipyard Limited (CSL) has launched two Ro Pax vessels designed and built for Inland Waterways Authority of India (IWAI).The vessels launched at present are the third and fourth vessels in the series of 10 vessels order from IWAI, said the largest shipbuilding and maintenance facility in India.Cochin Shipyard is building a total of 8 Nos. Ro Pax vessels and 2 Nos Ro-Ro vessels for Inland Waterways Authority of India.IWAI nominated CSL for the construction of these vessels, which will be operated in strategic locations in National Waterways 1&2. These vessels can accommodate around 200 passengers and will have 8 crews and can carry 2 trucks and 4 cars.

The largest shipbuilding and maintenance facility in India, Cochin Shipyard Limited (CSL) announced steel cutting ceremony of three marine ambulance boats  for the Department of Fisheries, government of Kerala State.The minister for fisheries in the state J. Mercykutty Amma expressed happiness at the effort taken by CSL in designing safe & stable vessels for the support of the fishing community in the State.CSL said that she complimented shipyard, Central Institute of Fisheries Technology (CIFT), Indian Revenue Service (IRS) & Indian Institutes of Technology (IIT), Chennai for their participation in ensuring for the first time that a…

Cochin Shipyard Limited and Inland Waterways Authority of India has signed a contract for roll-on-roll-off (Ro-Ro) vessels.   The contract, which entails design, construction and supply of Ten Ro-PAX and Ro-Ro Vessels, is worth INR 1.02 billion (USD 15 mln) plus taxes.   These vessels which are capable of carrying Trucks, vehicles etc. and with sitting passengers will be deployed in various strategic locations in National Water Ways 1, 2 and 3.   The vessels are conceptualized and fully designed by CSL. They are built to standards under the rules of Indian Register of Shipping. All the ten vessels will be delivered within a contractual period of 18 months.

Major ports in India have recorded a growth of 3.46% and together handled 439.66 Million Tonnes of cargo during the period April to November, 2017 as against 424.96 Million Tonnes handled during the corresponding period of previous year. For the period from April- November 2017, nine Ports (Kolkata (including Haldia), Paradip, Visakhapatnam, Chennai, Cochin, New Mangalore, Mumbai, JNPT and Kandla) have registered positive growth in traffic. The highest growth was registered by Cochin Port (17.93%), followed by Paradip (13.13%), Kolkata [incl. Haldia] (12.64%), New Mangalore (7.07%) and JNPT (5.69%). Cochin Port growth was mainly due to increase in traffic of POL (25.15%) and Containers (10.46%).

The Minister of Shipping in India,  Nitin Gadkari has said that Cochin is all set to become a global ship repair hub. He was speaking at Cochin, after laying the  foundation stone for a INR 970-crore (USD 148 million) International Ship Repair Facility (ISRF) for Cochin Shipyard Limited. The facility is being built at Cochin Port Trust where CSL has leased out a 40-acre plot for the project. The International Ship Repair facility will be a State of the Art facility that can handle a major chunk of small and medium sized vessels plying in India. CSL will set up a ship lift system of size 130 m x 25 m with lifting capacity of 6000 tonnes and 6 work stations. The facility can repair up to 85 vessels, and CSL will thereby  be almost doubling the number of ships that can be repaired every year.

A Ukrainian delegation led by its Deputy Minister of Economic Development and Trade Ms. Nataliya Mykolska, met Secretary, Ministry of Shipping Shri Ravikant in New Delhi  to discuss the potential for developing sustainable partnership between the two countries in the area of shipbuilding. Giving an overview of ship building industry in their country, the Ukrainian delegation invited senior officials of the Ministry of Shipping to visit Odessa and Kiev to study the logistic chain and shipbuilding yards in particular. Secretary, Shipping Shri Ravikant invited Ukraine to send a group-cum-business delegation to visit Cochin Shipyard Limited (CSL). CSL is one of the major civilian shipyards in India and has been amongst the biggest in the country.

In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast  at present in the country. The Cochin Shipyard Limited, a Central Public Sector Shipyard under the administrative control of Ministry of Shipping…

The Cochin Shipyard Limited in India delivered two RoRo vessels to the Kochi Municipal Corporation (KMC), Press Trust of India reported. The vessels with modern equipment are expected to provide a great relief to the transportation problems in Kochi, the report said quoting company officials. With a length of 27 metres and 8.25 metres breadth, the vessels can achieve speeds of six knots, it said. The vessels are provided with ramps on either side, both in the forward and aft, eliminating the need for reverse parking of the vehicles on the ferry. The diagonally placed azimuth thrusters of these vessels eliminates the need for turning of the vessels at the jetty and also allows for better manoeuvrability, especially during high tidal currents.

The Expansion, modernization and upgradation of shipping infrastructure in India is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo. The Government is committed to provide best possible infrastructure facilities to Indian shipping industry. Cochin Shipyard Limited, a Central Public Sector Enterprise under the administrative control of Ministry of Shipping has a shipbuilding capacity of 1,10,000 DWT and ship-repair capacity of 1,25,000 DWT to cater to the needs of the shipping industry. (i) Exempted Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India.

A new large dry dock is considered essential for future growth of Cochin Shipyard (CSL), says the ministry of shipping, India. This dry dock will enable CSL to construct LNG ships, Large Naval vessels like the proposed second Indigenous Aircraft Carrier, Merchant vessels, like Cape size vessels, etc. The dry dock will also cater to repairs and upgradation of jack-up rigs, semi submersibles, etc. The  estimated cost of the proposed new High Density dry dock is Rs. 1799 Crores ($265 million). The proposal has been approved by Cabinet Committee on Economic Affairs (CCEA) on 20th July, 2016. Ministry of Environment & Forest has given environment clearance to the project on 9th November, 2016 with a major pre condition of  NBWL Clearance.

In order to support the Indian shipping industry, the Government of India has exempted Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India. Government has brought in a uniform abatement of service tax for transportation of goods by rail, road and sea vessels. Indian shipping industry has been provided cargo support through Right of First Refusal (RoFR). Government has taken policy decision to allow shipping enterprises based in India to acquire ships abroad and also flag them in the country of their convenience. As a step towards promoting “Ease of Doing Business” methodology for computation of period of stay of seafarers in India has been redefined.

(i) Memorandum of Understanding between the Government of the Republic of India and  the Islamic Republic of Iran over partnership of India in development plan of Chabahar Port, signed on 06 May, 2015. (ii) Memorandum of Understanding between the Ministry of Shipping of the Republic of India and the Ministry of Oceans and Fisheries of the Republic of Korea on Cooperation in the fields of Maritime Transport and Logistics, signed on 18 May, 2015. Scope of cooperation under the MoU, inter-alia, includes utilization, development and management of domestic and overseas ports. (iii) Agreement between the Government of the Republic of India and the Hashemite Kingdom of Jordan on Maritime Transport, singed on 11 October, 2015.

The aircraft carrier INS Vikramaditya has successfully completed its first routine maintenance, a 43-day short refit, at the Cochin Shipyard Ltd (CSL), and is at a high level of operational competence and preparedness. Rajesh Gopalakrishnan, General Manager (Ship Repair Division) at CSL said “Till INS Vikramaditya docked in Cochin Shipyard and water was pumped out of the dock and we had her sitting safely, there was a real concern on whether India could do it”. INS Vikramaditya is one of the biggest ships owned by India and ever  to have docked in India till date. In September, the Indian Navy, one of CSL’s biggest client, decided to dry-dock the carrier attached to its Karwar Naval Base at CSL for repairs on a contracted schedule of 70 days.

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed are in line with aggressive growth plans of the public sector firm. "CSL has signed a MoU with the Government of India for the financial year 2016-17," Ministry of Shipping said in a statement. The Memorandum of Understanding was signed by Shri Rajive Kumar, Secretary Shipping and Shri Madhu S Nair, Chairman & Managing Director, Cochin Shipyard Limited, at New Delhi. The MoU broadly consists of the performance evaluation parameters and targets for Cochin Shipyard for the ensuing year.

Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships. GAIL needs nine LNG carriers to haul natural gas from the US to India beginning December 2017. With this, Cochin Shipyard becomes the second local yard to secure a technology tie-up for LNG ships from one of the three top shipbuilders in South Korea, the world’s top shipbuilding nation. According to Express News Service, If Cochin Shipyard-Samsung wins the tender, the consortium is expected to secure orders for three ships, each costs around Rs 1500 crore.

Indian Government has initiated procedures for sale of shares of Cochin Shipyard Limited (CSL) by seeking expression of interest (EoI) from merchant bankers to manage the initial public offering (IPO). The listing will involve the sale of some 33.98m shares, of which 22.66m will be primary and 11.33m secondary shares offered by the country, which wants to offload a 10% stake. Cochin Shipyard had a paid up share capital of Rs1.13bn ($16.65m) and a net worth of Rs15.61bn. "The proposed IPO will see the government reduce its stake in the company by 10%. Cochin Shipyard will also issue fresh shares through the IPO to raise capital for funding future growth plans," says a company statement. The government will appoint up to three merchant bankers for managing the IPO.

Shipping Corporation of India Ltd (SCI) will buy five vessels from Cochin Shipyard Ltd (CSL) and issue tenders for buying two used liquefied petroleum gas (LPG) carriers as it looks to re-start ship purchases that were frozen after poor financial performance, according to a report in the Live Mint. Both are state-owned entities. CSL has also signed an agreement with Netherlands-based IHC BV to collaborate on constructing dredgers for the Indian market. Dredgers are specialized ships used to deepen and maintain the channel of harbours. SCI has approved the signing of a memorandum of understanding with Cochin Shipyard for the five vessels. The price for the five ships has not been decided yet.

The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc. Some of the major Indian companies who have signed agreements include the Adanis, Jindal, Vedanta, ESSAR, and Shapoorji Pallonji Company. One significant MOU signed relates to establishment of a greenfield port at Vadhavan, Maharashtra. Phase I of the project is estimated to cost around Rs 9167 crores.

India has undocked its first indigenously-built aircraft carrier INS Vikrant at a simple ceremony at Cochin Shipyard Limited (CSL) in Kochi, reports PTI. As of this week, the INS Vikrant, with a completed hull and internal structure, is free-floating and will go into static and dynamic trials soon. The ship, built at CSL, will undergo a series of fitment and trial processes before it is ready for propulsion and inducted into the Navy, CSL officials said. "A milestone crossed in shipbuilding IAC INS Vikrant undocked on completion of structural work at CSL,” defense ministry spokesperson Sitanshu Kar tweeted. India's largest aircraft carrier, INS Vikrant's induction into the Navy will be done after a series of static and dynamic trials, they said.

Cochin Shipyard Limited (CSL) says it has delivered the third of the series of 20 Fast Patrol Vessels being built for the Indian Coast Guard. The vessel is named “ABHINAV” and will be operated by the Coast Guard station at Kochi. The first vessel was commissioned on 13th December 2013 and the second on 31 December 2013. Like its sister ships, “ ABHINAV” also can move very fast at a speed of 33 knots and will be very effective in supporting the Indian Coast Guard in its anti smuggling, anti piracy operations and fisheries protection and monitoring.