Last Updated : Saturday, July 14, 2018 02:04:22

TGIF for Shipping Sector in India – vessel deliveries & new orders on Friday the 13th makes news

COCHIN | MUMBAI | RAJKOT – Thank God its Friday (TGIF) for the shipping sector of the nation, today four companies from Shipping sector in the nation had a lot of business, and you bet it was all they informed the Indian Bourses on Friday the 13th.

Cochin Shipyard Ltd got a new order worth 1.02 billion rupees (~102.6 crore), whereas GE Shipping and Shipping Corporation of India delivered vessels to their buyers and Seamac Shipping got a delivery of bulk-carrier vessel.

The companies said in respective regulatory filings submitted to the Indian Stock Exchanges, on Friday.


COCHIN SHIPYARD LTD

Cochin Shipping Ltd  bagged shipbuilding contract between Cochin Shipyard Ltd and Inland Waterways Authority of India for Design, Construction and Supply of Ten Ro-PAX and Ro-Ro Vessels.

The company signed shipbuilding contract with Inland Water Authority of India (IWAI) for Design, Construction and Supply of Ten Ro-Ro Vessels.

The total contract value is INR 102.6 Crores + applicable taxes.

These vessels which are capable of carrying Trucks, vehicles etc. and with sitting passengers will be deployed in various strategic locations in National Water Ways 1, 2 and 3.

The vessels are conceptualized and fully designed by CSL.

They are built to the standards under the rules of Indian Register of Shipping.

All the ten vessels will be delivered within a contractual period of 18 months.


SHIPPING CORPORATION OF INDIA (SCI) LTD

SCI has given physical delivery of its 1 (one) crude oil tanker “M.T. Guru Gobind Singh, to its (undisclosed) buyer.


GREAT EASTERN (GE) SHIPPING COMPANY LTD 

The company delivered its 2001 built Supramax Vessel ‘Jag Ratan’ to (undisclosed) buyers, the vessel was contracted for sale in year June 2018.

Jag Ratan vessel is of 52,179 deadweight tonnage.

The Company’s current fleet (excluding ‘Jag Ratan’) stands at 48 vessels, comprising 34 tankers (12 crude carriers, 17 product tankers, 5 LPG carrier) and 14 dry bulk carriers (1 Capesize, 8 Kamsarmax, 5 Supramax) with an average age of 10.70 years aggregating 3.92 mn dwt.


SEAMEC LTD

SEAMEC INTERNATIONAL FZE, wholly owned subsidiary of SEAMEC Ltd purchased a Bulk Carrier “TENTO” renamed as “GOOD HOPE” on 11th July, 2018.

The vessel is having the Marshall Island Flag.

Immediately on the acquisition, the vessel was deployed on a long term Bare boat Charter for a period of 7 years.

SEAMEC Ltd, as a parent Company furnished a Corporate Guarantee in favour of Bank of Baroda, Sharjah, UAE from whom SEAMEC INTERNATIONAL availed a loan of USD$7.2 million as a part finance to the project.


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