Business Daily from THE HINDU group of publications
Thursday, Aug 10, 2006
Business Daily from THE HINDU group of publications Thursday, Aug 10, 2006 |
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Logistics
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Shipping Corporate - Announcements CSL launches 3 vessels Our Bureau
Kochi , Aug 9 The public sector Cochin Shipyard Ltd on Wednesday repeated its feat of launching three ships in a single day when the third bulk carrier under construction for Clipper, Bahamas, the 9th fire-fighting tug for ATCO, Saudi Arabia, and the second platform supply ship for Deep Sea Supplies, Norway, were launched. The previous shipbuilding achievements during the year included delivery of three fire-fighting tugs to ATCO and launching of the second bulk carrier for Clipper along with the first platform supply vessels for Seatankers, Cyprus. In 2005-06, contracts were concluded for additional four Rolls-Royce UT 755-L type platform supply vessels for Deep Sea Supply ASA, Norway. The yard's present order book in shipbuilding consists of balance four 30,000-DWT bulk carrier for Clipper, eight platform supply vessels for Deep Sea Supply, four platform supply vessels for NFC, Norway, and the air defence ship for the Indian Navy.
Net up in 2005-06
For 2005-06, the yard achieved a net profit of Rs 18.23 crore (increase of 30 per cent) compared with Rs 12.10 crore in the previous year. The net worth stood at Rs 284.85 crore as on March 31, 2006 against Rs 266.62 crore as on March 31, 2005. The yard registered the highest shipbuilding achievement of 1,01,663 DWT. On the ship repair front, the company secured contract for three major upgradations from ONGC valued at Rs 372 crore.
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