Cochin Shipyard

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Coordinates: 9°57′17″N 76°17′17″E / 9.954585°N 76.28814°E / 9.954585; 76.28814

Cochin Shipyard Limited
Public Sector Undertaking
Traded as BSE540678
NSECOCHINSHIP
Industry Shipbuilding
Founded 1972
Headquarters Kochi, India
Area served
India
Key people
Madhu S Nair (CMD)
Products Tankers; Bulk carriers; Platform supply vessels; Patrol boats; Diving support vessels
Services Ship design
Shipbuilding
Ship repair
Revenue Increase 25.44 billion (US$350 million) (2017-18)[1]
Increase 6.05 billion (US$84 million) (2017-18)[1]
Increase 3.97 billion (US$55 million) (2017-18)[1]
Total assets Increase 36.98 billion (US$510 million) (2017-18)[1]
Total equity Increase 32.56 billion (US$450 million) (2017-18)[1]
Owner Govt. of India
Number of employees
1,781 (2017-18)
Website cochinshipyard.com
A view of one of the docks at the Cochin shipyard

Cochin Shipyard Limited (CSL) is the largest shipbuilding and maintenance facility in India.[2] It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.[3]

Of the services provided by the shipyard are building platform supply vessels and double-hulled oil tankers. Presently it is building the first range of indigenous aircraft carriers for the Indian Navy, the Vikrant-class aircraft carriers.

Cochin Shipyard was incorporated in 1972 as a Government of India company, with the first phase of facilities coming online in 1982. The company has Miniratna status.[4] The yard has facilities to build vessels up to 1.1 million tons and repair vessels up to 1.25 million tons, the largest such facilities in India. In August 2012, the Government of India announced plans of divestment to raise capital of Rs. 15 billion (15,000 million Rupees) for further expansion through an Initial Public Offering (IPO) towards the end of the fiscal year.[5] However, this did not materialise until August 2017, when the company conducted its IPO and listed its shares on the BSE and NSE.[4]

The government finalised the decision of stake sale on 18 November 2015. 33.9 million (33.9 million) shares of face value Rs. 10 Each will be sold, out of which the government is holding 113,000 shares while the others are fresh equity.

The shipyard also trains graduate engineers in marine engineering.[6] Around one hundred students are trained each year.

Shipbuilding[edit]

INS Vikrant being built at Cochin Shipyard in 2017

The first ship to roll out of the Cochin Shipyard was the MV Rani Padmini in 1981.[7]

The yard has delivered two of India's largest double-hull Aframax tankers each of 95,000 DWT.

CSL has secured shipbuilding orders from internationally renowned companies from Europe and the Middle East. The shipyard is building six 30,000 DWT bulk carriers for Clipper Group of the Bahamas and the first three vessels have been launched.[8]

Eight platform supply vessels for the Norwegian Seatankers Management Company, are also under construction.[citation needed]

Cochin Shipyard is currently building India's first indigenous aircraft carrier. The Vikrant-class aircraft carriers (formerly, the Project 71 "Air Defence Ship" (ADS)) are the first aircraft carriers of the Indian Navy to be designed and built in India. The carriers will be the largest warships built by CSL. As of March 2016, it has nearly completed the construction of the first Vikrant-class carrier, the INS Vikrant.

Ship repair[edit]

The shipyard started offering ship repair services in 1982 and has undertaken upgrades and repairs for all types of ships including ships for the oil exploration industry as well as scheduled maintenance and life extension for ships of the Indian Navy, Indian Coast Guard, the Union territory of Lakshadweep, Fisheries and Cochin Port Trust, SCI and the Oil and Natural Gas Corporation (ONGC). It has performed major overhauls for the aircraft carrier, INS Viraat.

Recently CSL was awarded major maintenance and upgrade orders from ONGC. This included major overhaul of three rigs, Mobile Offshore Drilling Unit (MODU) Sagar Vijay, Mobile Offshore Drilling Unit Sagar Bhushan and Jackup rig Sagar Kiran.

References[edit]

  1. ^ a b c d e "46th Annual Report" (PDF). Retrieved 2018-08-20.
  2. ^ "Welcome to Cochin Shipyard : ISO 9001 Certified Shipyard of the Millenium". Cochinshipyard.com. Archived from the original on 14 September 2013. Retrieved 15 August 2013.
  3. ^ "List of ship building centres in India". Shipping Ministry of India. Archived from the original on 15 September 2005. Retrieved 18 July 2008.
  4. ^ a b Mudgill, Amit (12 August 2017). "Cochin Shipyard rallies over 20% on D-Street debut". The Economic Times. Retrieved 13 June 2018.
  5. ^ "Cochin Shipyard Limited firms up plans to go for IPO by year-end". The Times of India. Archived from the original on 23 October 2012. Retrieved 23 August 2012.
  6. ^ "Cochin Shipyard – Marine Engineering Training Website". Archived from the original on 17 January 2008. Retrieved 17 January 2008.
  7. ^ Priyadershini S. (7 March 2012). "Soft hands handling hard steel". The Hindu. Chennai, India. Archived from the original on 10 March 2012. Retrieved 15 August 2013.
  8. ^ "Business : CSL launches three new vessels". The Hindu. Chennai, India. 1 March 2006. Archived from the original on 23 October 2012. Retrieved 15 August 2013.