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Our Bureau

Rs 100-cr ship to be handed over in 4 months

ALL SET: Good Princess, the 30,000-DWT bulk carrier built in the Hindusthan Shipyard for the Goodearth Maritime Ltd, all set to get into the waters in Visakhapatnam on Wednesday. - K.R. Deepak

Visakhapatnam May 16 A 30,000-DWT bulk carrier m.v Good Princess built for the Chennai-based Good Earth Maritime Ltd at the Hindusthan Shipyard Ltd (HSL) here was launched on Wednesday. At a low-key function, the ship was launched by Mr Padmacharan Rathore, a senior employee in the HSL.

The keel for the ship was laid on January 18, 2006, and it was the biggest ship launched from the slipway of the HSL, according to Rear-Admiral Ajit Tewari, Chairman and Managing Director. "It is a momentous occasion and it augurs well for the HSL. In spite of the tribulations in the recent past, there are good things to come for the shipyard," he said.

Order Book

He said the fortunes of the shipyard were on the rise again and it was all set to make marginal profits.

The order book position was healthy, with orders worth more than Rs 2,000 crore on hand. Rear-Admiral Tewari said that m.v Good Princess was being launched from the slipway, which had not been operational for more than 10 years.

"It is quite an achievement and I hope all the three slipways in the HSL will be operational.

"I congratulate the workers and the officers who have made it possible," he said.

The ship m.v Good Princess cost Rs 110 crore. He said the HSL was building three more such 30,000-DWT bulkers for the Good Earth Maritime Ltd. The present ship would be handed over to the company in four months or so. He thanked the company for reposing faith in HSL and placing the orders.

It may be noted that the HSL is awaiting a revival package and capital restructuring for more than a decade.

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