Cochin Shipyard has signed an MoU with AP Moller-Maersk for collaboration in ship repair and building in India. The agreement includes sharing technical expertise, joint training programs, and promoting responsible practices. However, brokerage firm Kotak Institutional Equities has issued a ‘sell’ rating on Cochin Shipyard, predicting a potential 40% decline in its stock.
DEENDAYAL Port Authority (dpa) and Cochin Shipyard LTD (CSL) have partnered to establish a state-of-the-art ship-repair hub in Gujarat at the cost of 1,750 crore rupees. CSL will manage repair operations at the Vadinar facility, with the capacity to service 32 ships annually. This collaboration aims to boost India’s ship repair capabilities.
HSL, a dynamic DPSU, saw a total revenue of Rs 478 crore in 2021 with a loss of Rs 14 crore. The company’s transformation has been significant, focusing on infrastructure modernization, corporate governance, and ship repairs. A contract with L&T Geostructure aims to enhance capacity for future projects, emphasizing PPP initiatives for revenue generation.
The workshop highlighted technology and practices for efficient ship repair and building, emphasizing the need for workforce capacity and talent development. Secretary Shri TK Ramchandran, IAS emphasized government commitment to growth. The workshop promoted industry collaboration and discussed the goals set in Maritime India Vision 2030. Discussion topics included infrastructure, green initiatives, and training models.
President Ferdinand Marcos Jr. has approved the 10-year updated Maritime Industry Development Plan 2028 (MIDP). Executive Order No. 55 adopts the plan as the country’s whole-of-nation roadmap for the integrated development of the maritime industry. The plan calls for modernization and expansion of the shipping industry, promotion of a skilled maritime workforce, and more.
