10,000 TEU Vessel Delivered to Seaspan
Seaspan Corporation said it has accepted delivery of the CMA CGM Cochin, a 10,000 TEU containership that will commence a fixed rate time charter with CMA CGM S.A. for a three year term with an option to extend for an additional three years.The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. and Jiangsu New Yangzi Shipbuilding Co., Ltd., is the second in a series of four 10,000 TEU vessels under time charter to CMA CGM that are scheduled to deliver in the first half of 2018.
Wartsila India Signs Pact with CSL
Wartsila India, the Indian arm of Finland-based Wartsila Corporation, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Ltd (CSL) for setting up a containerised self-sufficient workshop. As per the MOU, Wartsila plans to locate a containerised self-sufficient workshop within the premises of CSL to cater primarily to propeller blade metallurgical repairs and engine component repairs. Wartsila also plans to support CSL with comprehensive engine services, propulsion services and electrical and automation services based on the requirements, said a press release.
Sunny Thomas appointed Director (Technical), Cochin Shipyard
V. Kala, the Company Secretary of Cochin Shipyard Ltd., in India has in a press release informed that Sunny Thomas, assumed charge as Director (Technical) of Cochin Shipyard Ltd w.e.f 01 Jun 014. Sunny Thomas is B-Tech (Hons) in Naval Architecture and Shipbuilding from CUSAT and an MBA in Finance. Sunny Thomas joined Cochin Shipyard on 03rd August 1981 as Management Trainee and has served in various critical operational areas like shipbuilding, Design, Shiprepair, projects etc. He has been trained in shipbuilding techniques in Japan for one year. He rose up in the ranks of CSL through dedicated and committed service in the last three decades.
Cochin Shipyard Eyes ABG
India's state-owned Cochin Shipyard Ltd (CSL) has started preliminary discussions to buy a controlling stake in debt-ridden ABG Shipyard Ltd, Livemint reported quoting un-named sources close to the development. Earlier, three suitors - Reliance Defence, Shapoorji Pallonji Group and the UK’s Liberty House - have shown interest in buying ABG, even as its lenders try to force the ship maker out of a debt recast mechanism and recover their dues. However, sources say that they have backed out one by one. Now that Shapoorji Pallonji and Co.
CSL to Supply 5 Ships to Shipping Corp, Signs Pact with IHC for Dredgers
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.
ABG Ties Up with GTT for LNG Technology
ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint. With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers. The Shipyard is preparing for a tender set to be issued by GAIL (India) Ltd for hiring nine new LNG ships that will haul gas from the US from December 2017. “We have signed an agreement with GTT for technology transfer for building LNG ships,” a spokesman for ABG Shipyard said.
Cochin Builds Vard Designed PSVs
The Sea Tantalus is the first of a series of Vard Group (STX) designed platform supply vessels being built at Cochin Shipyard Ltd. in India. The distinctive hull configuration is being built in countries around the world, and the Indian version is the first of four from Cochin. At 82.2 by 17-meters the Sea Tantalus has a 7.6-meter depth at the main deck. Built to Det Norske veritas (DNV) standards, including clean notation, the new vessel employs diesel-electric propulsion. Power is provided by four 1,635 HP (12,00 kW) Cummins KTA50-DM1-powered electrical generators.
Cochin Shipyard in Pact with Samsung Heavy Industries
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).
India's Cochin Shipyard Gears up for IPO
Cochin Shipyard Ltd (CSL), India's largest public sector shipyard, has filed initial public offering (IPO)document with the market regulator Securities and Exchange Board of India (SEBI) to go public. The government approved a stake sale of up to 25 percent. Cochin Shipyard IPO will consist of 34 million shares to raise about INR 1,400-1,500 crore (USD 214 - 229 million). On completion of a successful IPO, CSL will become the first of five state-owned shipbuilding companies to be publicly listed. It has filed a draft red herring prospectus (DRHP) with SEBI.
India: Strike at CSL
According to a report from The New Indian Express, the Cochin Shipyard Ltd (CSL) on Friday said the strike by the workers of the contractors was affecting the normal operations, including strategic naval projects, shipbuilding and ship repair work at the yard. Source: The New Indian Express
Buoy Tender Vessel Delivered Ahead of Time under IRClass
IRClass (Indian Register of Shipping) has just completed the new construction survey of a high value, technologically sophisticated Buoy Tender cum multi-purpose vessel built by Cochin Shipyard Ltd (India) under single class.The new vessel MV Indira Point, 72 mts long,1350 tons DWT, fitted with Hele-deck and a 35 tons capacity crane for handling buoys in deep seaswas handed over to the Directorate General of Light Houses and Light Ships(DGLL India) in April after completing ahead of schedule by the yard under close supervision of IRClass. The vessel, built at a cost of approx.
High-Tech Buoy Tender Vessel Delivered
A newly built, technologically sophisticated buoy tender multipurpose vessel, MV Indira Point, was delivered to the Directorate General of Light Houses and Light Ships (DGLL India) in April after being completing ahead of schedule by India’s Cochin Shipyard Ltd. under close supervision of Indian Register of Shipping (IRClass). Built at a cost of approximately $25 million by Cochin under single class, the vessel is 72 meters long, 1,350 tons DWT, fitted with Hele-deck and a 35 tons capacity crane for handling buoys in deep seas.
Cochin Shipyard's $231 Mln IPO Subscribed Over 76 Times
Cochin Shipyard Ltd's initial public offering, which aims to raise up to 14.68 billion rupees ($231 million), was subscribed more than 76 times on the last day of the sale on Thursday, indicating strong interest in the state-run shipbuilder. Investors bid for about 2.59 billion shares, compared with nearly 34 million shares on offer, data from stock exchanges showed as of 0130 GMT. The company, which also repairs ships, was selling about 22.7 million new shares in the price range of 424 rupees to 432 rupees apiece, while the Indian government was selling about 11.3 million shares in the company. SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the lead banks managing the IPO. The stock is set to make its trading debut on or around Aug. 11.
Cochin Shipyard Shares Jump After $225 mln IPO
Shares in India's Cochin Shipyard Ltd rose more than 20 percent on their trading debut on Friday after the state-run company's 14.42 billion rupees ($224.7 million) initial public offering. The stock was trading at 528.15 rupees by 0432 GMT, 22.25 percent higher than its IPO issue price of 432 rupees. Retail investors were issued shares at a discounted price of 411 rupees. The shipbuilder, which also repairs ships, had seen strong investor interest in the IPO with the sale last week being subscribed more than 76 times. Reporting by Swati Bhat and Devidutta Tripathy
Cochin Shipyard Spreads its Wings
After successfully completing its initial public offer (IPO) recently, India's Cochin Shipyard Ltd (CSL) has lined up expansion projects. The IPO's proceeds will be utilised to fund these expansions. The PTI reported that CSL is now setting sail to newer shores as it looks to set up ship-building and repair facilities in Andaman and Nicobar, Gujarat, Kolkata and Mumbai. The report quoted Nitin Gadkari, Indian Shipping Minister, saying that the government is expanding Cochin Shipyard. CSL will have ship-building and repair facilities in Andaman and Nicobar, Gujarat and Mumbai.
Cochin shipyard Plans it Big
The Cochin shipyard Ltd (CSL) has plans to develop a major hub of LNG-based ship building and repair facility that would generate about 3, 000 jobs in the State of Kerala, the Hindu quotes Madhu S. Nair, Chairman and Managing Director of Cochin Shipyard Ltd, as saying. Madhu said that the Indian maritime industry has been lagging behind the global trends due to lack of maritime engineering policies adopted by the sector. He said the Cochin shipyard is keenly looking forward to transforming into a viable ship repair centre.
Indian Shipyards Likely to Benefit from Government Orders
Indian shipyards will commission five warships each year in the next five years, reports 'The New Indian Express', citing Defence Minister A K Antony, who added that the challenges faced by the shipbuilding industry led it to look towards the defence sector for orders. The Defence Minister made these remarks after commissioning the Coast Guard Ship Abheek -- the second fast-patrol vessel of the Indian Coast Guard designed and built by Cochin Shipyard Ltd., pointing out that as the resources on land were getting depleted at a rapid pace, nations were turning to oceans for sustenance. The newspaper adds that the Abheek is propelled by water jet with a maximum speed of 33 Knots and an endurance of 1…
Vard Electro Bags Contract in India
Vard Electro AS, a subsidiary of Vard Holdings Limited, has secured a new contract for the delivery of an equipment and electrical installation package to Cochin Shipyard Ltd. for a vessel under construction for the Government of India. Contracted by the yard in August 2015 and expected to become operational in 2018, the vessel with a length of approximately 120 meters will be equipped with several of VARD’s SeaQ products and systems. The contract includes engineering to support the shipyard in the approvals process, delivery of a SeaQ Electric Propulsion and Integrated Automation System (IAS) package, SeaQ Bridge systems, complete generator sets, and the complete electrical installation on board the vessel. The value of the contract is approximately 150 MNOK.
Cochin Shipyard Gears Up for IPO
India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources, CSL is all set to file documents for its IPO of Rs 600 crores ($90 million) with the Securities and Exchange Board of India (SEBI). The plan is part of its effort to expand and construct larger vessels and also undertake ship repair and fabrication. In addition, the government will sell 10% of its stake through the IPO.
Rolls-Royce to Design & Power Buoy Tender for India
Rolls-Royce has secured an £8-million contract to design and power a highly specialised buoy tender vessel for India. The vessel will be built at the Cochin Shipyard Ltd. in India, and is due for delivery in 2015, to operate in remote waters off the east coast of India and around the Andaman & Nicobar Islands maintaining and replacing navigational aids and buoys. The buoy tender vessel is a Rolls-Royce UT 755 S, which is a development of the well proven UT 755 series, and designed to operate safely in the most challenging conditions.
Fire on Ship Under Repair Kills 5 in India
A blast caused by a fire on a ship under repair at India's Cochin Shipyard Ltd killed five people on Tuesday, and injured around 11, a company spokeswoman said, prompting the government to call for a quick enquiry. The spokeswoman said smoke hampered rescue operations initially and that an investigation would be launched soon. The ship belongs to the country's top energy explorer, Oil and Natural Gas Corp Ltd, she added. An ONGC official said the ship was undergoing maintenance at state-run Cochin Shipyard on the country's southwest coast. The blast took place inside the water tank, said M.P. Dinesh, a senior police official in the southern state of Kerala where the shipyard is located.
Indian Shipyard Delivers High-end PSV
Cochin Shipyard Ltd (CSL) delivers the second of two Platform Supply Vessels (PSV) to Shipping Corporation of India. The high tech Rolls Royce PSV SCI Yamuna is dual classed under the Rules and Regulations of IRS Det Norske Veritas (DNV) and Indian Register of Shipping (IRS) and registered under the Indian flag with Mumbai as the homeport, reports 'The Hindu'. This 79 x 16 metre vessel is a high-end diesel electric platform supply vessel with four 994 KW diesel generator sets and two 1470 KW Azimuth thrusters. The vessel has redundant dynamic positioning (DP2) system features, and has been assigned the ‘Clean Design’ notation by DNV signifying the highest levels of environmental compliance.
GTT Grants License to India's CSL
GTT grants a License Agreement to Cochin Shipyard Ltd. GTT (Gaztransport & Technigaz) announced it has granted a License Agreement to Cochin Shipyard Ltd. (CSL) for the construction of LNG carriers using GTT's membrane containment systems. CSL, the first Indian shipyard to be licensed by GTT, received this license after completing the GTT qualification process including membrane tank mock-up installation. Commodore K Subramaniam, Chairman and Managing Director of CSL, declared, "Obtaining this technology has made a significant positive change to the technical competence and stature of this yard. Going forward, we feel that this technology would help the yard to tap the huge shipbuilding prospects in the LNG vessel segment.