The Hindu Business Line : Cochin Shipyard building 20 offshore vessels

Naming ceremony: Officials from Greek company Hellespont Steamship Corporation officials and Cochin Shipyard Ltd in front of two platform supply vessels under construction at the shipyard in Kochi. The vessels, being made for the Greek company, were named Hellespont Daring and Hellespont Dawn at a function here on Friday.

Our Bureau

Kochi, Nov. 21 The public sector Cochin Shipyard Ltd is in the process of constructing 20 offshore vessels, valued at Rs 3,000 crore, for European and American clients.

The projects being undertaken excludes the indigenous aircraft carrier for the Indian Navy, which is also under construction, Commodore M. Jitendran, Chairman and Managing Director, CSL, said.

He was speaking on the occasion of the naming ceremony of two platform supply vessels for the Greek company Hellespont Steamship Corporation here on Friday.

He said that the yard was able to achieve the highest ever turnover of Rs 967 crore during the year 2007-08.

The profit after tax was also the highest ever in the year at Rs 93.85 crore.

The two platform supply vessels were named as Hellespont Dawn and Hellespont Daring.

The vessels are of the popular UT-755-LN design for the offshore industry.

The vessel is designed for satisfying the specific demands of transport of deck cargo, pipes, liquid cargo, cement, barite and so on and unloading to rigs and production platforms, pipe laying barges etc.

They are the workhorse of the offshore oil field industry, which acts as a lifeline carrying all operational supplies and stores to far-off offshore installations.

As the offshore industry moves to deeper waters, demand for such advanced vessels is expected to rise.

The ships are built and classified under the most stringent rules and regulations and are classed for unnamed engine room and dynamic positioning Grade I.

The vessels also satisfies CLEAN notation of DNV which signifies high standards of environmental safety.

Small ship unit

The CMD also pointed out that the small ship division of the yard, which had received the approval from the Government, is expected to be commissioned next year.

The yard proposes to set up the division for constructing small commercial vessels for international owners.

The facility assumes importance as CSL would have to allocate a major part of its infrastructure to the construction of aircraft carrier in the coming years.

Dry dock

The other proposal under consideration of the yard is a new dry dock to take up repair/upgradation of high-end ships, including large oil rigs and aircraft carriers. The new dock will be larger than the present dock and would help the yard to reach a higher level of growth and also acquire the expertise in niche areas.