MHI TO TAKE STAKE IN L&T SHIPBUILDING
Mitsubishi Heavy Industries Ltd. plans to acquire a stake in L&T Shipbuilding Ltd. of India within a few years to secure its first shipbuilding base overseas, an MHI executive said.
The plan was revealed by Executive Vice President Hisashi Hara at a briefing Monday on the comprehensive heavy machinery maker's business plans.
MHI is currently providing L&T Shipbuilding with technological assistance ranging from design drawings to quality control under a technical tieup agreement signed by the two companies last year.
Mitsubishi Heavy intends to provide capital to L&T Shipbuilding at a time when Japanese shipbuilders are struggling to win orders in competition with Chinese and South Korean rivals.
Source: Japan Times
PIPAVAV SHIPYARD TIES UP WITH DCNS
Pipavav Shipyard will tie up with French naval shipbuilder DCNS for technology transfer.
The focus of teaming together is to build the most modern assets, including modern warships for the Indian Navy and the Coast-Guard, Pipavav Shipyard said.
DCNS is a global major in naval defence and an innovative player in energy. DCNS designs, builds and supports surface combatants, submarines and mission-critical systems and equipment. It also proposes services for naval shipyards and bases, besides offering solutions in civil nuclear engineering and marine renewable energy.
The Group employs 12,800 people and generates annual revenues of about €2.6 billion.
Source: Hindu Business Line
BRIGHT PROSPECTS AHEAD
According to ASSOCHAM the Indian Shipbuilding & ship repair industry is poised to reach Rs 9,200 crore by 2015.
The Indian shipbuilding and ship repair industry is likely to reach Rs 9,200 crore from the current level of just over Rs 7,310 crore and is growing at a compounded annual growth rate (CAGR) of about 8 per cent, as per ASSOCHAM.
The global shipbuilding and ship repairing industry is growing at a CAGR of about 24 per cent and is likely to reach Rs 14 lakh crore by 2015 owing to rising global sea borne trade, according to the ASSOCHAM study.
The overall cargo traffic at major ports in India is about 600 million tonnes and is likely to reach 1,230 million tonnes by 2015 and 3,000 million tones by 2020 growing at a compounded annual growth rate (CAGR) of about 20 per cent, said ASSOCHAM study.
This also denotes huge scope for private sector and foreign direct investment (FDI) in the shipping industry and the maritime states can develop a composite project on the public-private partnership model.
Indian companies are cashing in on the huge scope in building and repair of offshore vessels (OSVs) as leading nations in this industry are jostling with limited capacities.
High input costs and rising costs of raw material, freight together with miscellaneous duties and taxes being imposed amounts to a huge price differential of about 50 per cent in building a ship in India and other countries.
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