ABG Shipyard Plans to Buy Ship Repair Units

In its bid to cater to the international ship repair demand, private sector shipyard ABG Shipyard is planning to acquire ship repair units in the key shipping routes’ network, including Singapore and China. ABG Shipyard has already acquired a ship repair unit at Fujairah, UAE, for an undiscosed amount. The company is planning to develop Fujairah as a ship repair hub in a phased manner. The company has recently acquired a Canadian shipbuilding equipment facility for $ 5.6 million. Meanwhile, Gujarat Maritime Board and According to shipping industry analysts, a vessel with 1,2000 DWT would cost $40 million to $50 million. At present, the company has an order book of Rs 1,700 crore. Earlier, ABG Shipyard won a contract of construction of two 18,000 DWT geared bulk carriers from Finland-based ESL Shipping OY worth $61.6 million and contract for constructing three anchor-handling tug vessels for offshore applications worth $29.7 million from Cyprus-based Lamnalco. Source: P R Sanjai