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Cochin Shipyard

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Cochin Shipyard Limited
Company typePublic
BSE: 540678
NSE: COCHINSHIP
IndustryShipbuilding
Founded29 April 1972; 52 years ago (1972-04-29)
Headquarters
Kochi, Kerala
,
India
Area served
India
Key people
Madhu S. Nair
(Chairman & MD)
Products
Services
RevenueDecrease ₹2,536.94 crore (US$300 million) (FY 2023)[1]
Decrease ₹448.50 crore (US$54 million) (FY 2023)[1]
Decrease ₹334.8 crore (US$40 million) (FY 2023)[1]
Total assetsIncrease ₹9,909.04 crore (US$1.2 billion) (FY 2023)[1]
Total equityIncrease ₹4,423.41 crore (US$530 million) (FY 2023)[1]
OwnerGovernment of India
Number of employees
1,744 (March 2019)
Subsidiaries
Websitecochinshipyard.in

Cochin Shipyard Ltd (CSL) is the largest shipbuilding and maintenance facility in India.[2][3] It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.[4] Of the services provided by the shipyard are building platform supply vessels and double-hulled oil tankers. It built the first indigenous aircraft carrier for the Indian Navy, the INS Vikrant. The company has Miniratna status.[5]

History

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Cochin Shipyard was incorporated in 1972 as a Government of India company, with the first phase of facilities coming online in 1982.

In August 2012, the Government of India announced plans of divestment to raise capital of ₹15 billion for further expansion through an initial public offering (IPO) towards the end of the fiscal year.[6] The government finalised the decision of stake sale on 18 November 2015. 33.9 million  shares will be sold, out of which the government is holding 113,000 shares while the others are fresh equity. However, this did not materialise until August 2017, when the company conducted its IPO and listed its shares on the BSE and NSE.[5]

Activities

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The yard has facilities to build vessels up to 1,10,000 deadweight tonnage (DWT) and repair vessels up to 1,25,000 DWT.[7][8]

Shipbuilding

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INS Vikrant being built at Cochin Shipyard in 2017
Prime Minister Narendra Modi commissioned INS Vikrant on September 2, 2022, in Kochi, Kerala.

The first ship to roll out of the Cochin Shipyard was the MV Rani Padmini in 1981.[9]

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.[10]

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

INS Vikrant

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Main article: INS Vikrant (2013)

Cochin Shipyard built India's first indigenous aircraft carrier. INS Vikrant (formerly, the Project 71 "Air Defence Ship") is the first aircraft carrier of the Indian Navy to be designed and built in India. The carrier will be the largest warship built by CSL. In February 2020, all major structural and outfitting work was declared complete.[11] On 4 August, sea trials finally began.[12] Five day long sea trials were successfully completed on 8 August 2021.[13] On 2 September 2022, The ship was commissioned.

Ship repair

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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. It has also performed major overhauls for the aircraft carrier INS Vikramaditya two times on 2016 and 2018 respectively. 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.

On 5 April 2024, CSL became the third Indian shipyard after Kattupalli Shipyard of Larsen & Toubro and Mazagon Dock Shipbuilders to sign a Master Ship Repair Agreement (MSRA) with the United States Navy for repair of its Military Sealift Command Fleet Support Ships.[14][15][16] The ships operated by MSC are non-commissioned US Navy “support vessels” with civilian crews bearing the prefix “USNS”. Under the agreement, the US Naval ships of the Central Command that are in voyage are to be repaired in India.[17][18]

Others

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The shipyard also trains graduate engineers in marine engineering.[19] Around one hundred students are trained each year.

References

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  1. ^ a b c d e "Financial Report 2022-23" (PDF). Retrieved 19 May 2023.
  2. ^ "Annual Report 2015–16" (PDF). Ministry of Shipping, Govt of India. Retrieved 4 September 2022.
  3. ^ "Transportation Equipment" (PDF). Department of Public Enterprises, Ministry of Finance. Retrieved 4 September 2022.
  4. ^ "List of ship building centres in India". Shipping Ministry of India. Archived from the original on 15 September 2005. Retrieved 18 July 2008.
  5. ^ a b Mudgill, Amit (12 August 2017). "Cochin Shipyard rallies over 20% on D-Street debut". The Economic Times. Retrieved 13 June 2018.
  6. ^ "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.
  7. ^ "Welcome to Cochin Shipyard : ISO 9001 Certified - the biggest greenfield Shipyard of the Millenium".
  8. ^ "Welcome to Cochin Shipyard : ISO 9001 Certified - the biggest greenfield Shipyard of the Millenium".
  9. ^ 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.
  10. ^ "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.
  11. ^ Gurung, Shaurya Karanbir (10 February 2020). "Structural and outfitting work of India's first indigenous aircraft carrier complete". The Economic Times. Retrieved 12 February 2020.
  12. ^ "India's first indigenous aircraft carrier, to be named INS Vikrant, finally begins sea trials". Times of India. Retrieved 4 August 2021.
  13. ^ "Vikrant successfully completes 5-day maiden sea voyage".
  14. ^ Peri, Dinakar (8 April 2024). "Cochin Shipyard signs ship repair agreement with U.S. Navy". The Hindu. ISSN 0971-751X. Retrieved 27 September 2024.
  15. ^ "Third Indian Shipyard Wins U.S. Navy Approval for Ship Repairs". The Maritime Executive. Retrieved 27 September 2024.
  16. ^ "Cochin Shipyard signs master ship repair agreement with US Navy". ddnews.gov.in. Retrieved 27 September 2024.
  17. ^ "ASSESSING INDIA-US "MASTER SHIP REPAIR AGREEMENTS" (MSRAs)". maritimeindia.org. Retrieved 27 September 2024.
  18. ^ "Mazagon Dock Shipbuilders inks pact with US Navy to service its fleet - CNBC TV18". CNBCTV18. 7 September 2023. Retrieved 27 September 2024.
  19. ^ "Cochin Shipyard – Marine Engineering Training Website". Archived from the original on 17 January 2008. Retrieved 17 January 2008.
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