Latest news with #CochinShipyardLtd
Time of India
a day ago
- Business
- Time of India
ONGC scouts for local yards to build four platform supply vessels
MUMBAI: State-owned Oil and Natural Gas Corporation Ltd ( ONGC ), India's biggest oil and gas explorer, is scouting for public sector yards to build four so-called Platform Supply Vessels under a government-mandated plan to boost the domestic shipbuilding industry . Platform Supply Vessels are specially designed ships which provide various services and support to offshore oil and gas exploration and production activities. These vessels play a critical role in the logistics and operations of offshore oil and gas platforms. The cost of a new Platform Supply Vessel can vary significantly, ranging from $15 million to $53.6 million or more, depending on size, specifications, and the shipyard. A large PSV (4,500 dwt) could cost around $54 million, while a small to medium-sized one could come at a price tag of between $15 to $30 million, according to a ship broker. ONGC has started preliminary discussions with all the public sector shipyards for building the PSVs and a limited purpose tender is expected to be floated soon for finalising the contract, a source with knowledge of the plan said. The state-owned yards being sounded out for the order includes Cochin Shipyard Ltd , Hindustan Shipyard Ltd, Mazagon Dock Shipbuilders Ltd and Garden Reach Shipbuilders and Engineers Ltd. Following a request from an inter-ministerial joint working group set up last year, state-run oil companies have indicated that they require some 112 ships, including 30 Medium Range oil tankers, 24 very large gas carriers and four offshore vessels over the next 10-15 years. The joint working group has asked oil companies to float tenders for building ships locally and a technical working group has been set up to extend support in writing procurement and tender documents as they lack experience in this. The vessel specifications for MR tankers and very large gas carriers have been frozen, and the effort now is to draw up the procurement and tender documents. ONGC and Indian Oil Corporation Ltd will likely be the first among PSU oil companies to kick off government plans to build ships locally to support and grow the domestic shipbuilding industry. 'Currently, most of the ships required by ONGC are hired from the market, including those registered overseas. ONGC wants to own a few vessels of different categories as a strategic asset to avoid market fluctuations resulting in extremely high charter hire rates or non-availability of ships,' a government source said. The plan is being pursued very actively, the source said, noting that ONGC requires special purpose vessels such as diving support vessels, well stimulation vessels, geo technical investigation vessels, anchor handling tugs, platform supply vessels, offshore supply vessels and tankers to support its oil and gas exploration activities. ONGC could not be reached immediately for comment.
Time of India
04-07-2025
- Business
- Time of India
Cochin Shipyard Partners with HD Korea Shipbuilding for Global Maritime Excellence, ET Infra
Advt By , ETInfra Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. MUMBAI: State-owned Cochin Shipyard Ltd (CSL) has signed a Memorandum of Understanding (MoU) with one of the world's largest shipbuilders, South Korea's HD Korea Shipbuilding & Offshore Engineering Co. Ltd (KSOE), for long-term cooperation between the two companies in various domains of shipbuilding and maritime development , the Mumbai-listed shipbuilder MoU envisages long-term collaboration, including joint exploration of shipbuilding opportunities in India and abroad; sharing of technical expertise to scale up to the global standards in shipbuilding; identification of initiatives to enhance productivity and capacity utilisation; joint efforts to upskill and strengthen workforce; and exploration of potential collaboration in other shipbuilding-related is a global leader in shipbuilding and marine engineering, with proven expertise in designing and constructing commercial vessels, naval platforms, and offshore infrastructure. It oversees the operations of some of the world's largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy MoU, under which the two companies will pursue strategic cooperation across a range of areas, aligns with the Government of India's vision to develop the country into a global maritime hub under the ' Maritime India Vision 2030 ' and the ' Maritime Amrit Kaal Vision 2047 '. These strategic frameworks are backed by initiatives such as the recently announced ₹25,000 crore Maritime Development Fund, aimed at accelerating investment in shipbuilding, port modernisation, and infrastructure MoU is a significant step toward strengthening India's shipbuilding ecosystem through global collaboration and knowledge exchange, enhancing self-reliance and competitiveness in the maritime sector, the shipyard said.
Business Standard
04-07-2025
- Business
- Business Standard
Jyoti CNC Automation Ltd Surges 2.31%
Jyoti CNC Automation Ltd has lost 20.06% over last one month compared to 2.48% gain in BSE Capital Goods index and 2.85% rise in the SENSEX Jyoti CNC Automation Ltd gained 2.31% today to trade at Rs 1046.4. The BSE Capital Goods index is up 0.47% to quote at 72468.24. The index is up 2.48 % over last one month. Among the other constituents of the index, Bharat Dynamics Ltd increased 2.24% and Cochin Shipyard Ltd added 1.74% on the day. The BSE Capital Goods index went down 2.05 % over last one year compared to the 4.07% surge in benchmark SENSEX. Jyoti CNC Automation Ltd has lost 20.06% over last one month compared to 2.48% gain in BSE Capital Goods index and 2.85% rise in the SENSEX. On the BSE, 1236 shares were traded in the counter so far compared with average daily volumes of 43379 shares in the past one month. The stock hit a record high of Rs 1501.65 on 18 Dec 2024. The stock hit a 52-week low of Rs 750.2 on 28 Feb 2025.
Business Standard
09-06-2025
- Business
- Business Standard
Orient Cement Ltd leads losers in 'A' group
Avantel Ltd, SEPC Ltd, Cochin Shipyard Ltd and Data Patterns (India) Ltd are among the other losers in the BSE's 'A' group today, 09 June 2025. Avantel Ltd, SEPC Ltd, Cochin Shipyard Ltd and Data Patterns (India) Ltd are among the other losers in the BSE's 'A' group today, 09 June 2025. Orient Cement Ltd tumbled 8.96% to Rs 322.45 at 14:46 stock was the biggest loser in the BSE's 'A' the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 21110 shares in the past one month. Avantel Ltd lost 7.18% to Rs 159. The stock was the second biggest loser in 'A' the BSE, 8.59 lakh shares were traded on the counter so far as against the average daily volumes of 8.46 lakh shares in the past one month. SEPC Ltd crashed 6.05% to Rs 13.67. The stock was the third biggest loser in 'A' the BSE, 20.44 lakh shares were traded on the counter so far as against the average daily volumes of 10.61 lakh shares in the past one month. Cochin Shipyard Ltd dropped 3.34% to Rs 2312.75. The stock was the fourth biggest loser in 'A' the BSE, 8.93 lakh shares were traded on the counter so far as against the average daily volumes of 14.44 lakh shares in the past one month. Data Patterns (India) Ltd corrected 3.22% to Rs 2962.85. The stock was the fifth biggest loser in 'A' the BSE, 38991 shares were traded on the counter so far as against the average daily volumes of 1.54 lakh shares in the past one month.
Business Standard
06-06-2025
- Business
- Business Standard
Permanent Magnets Ltd Surges 12.25%
Permanent Magnets Ltd has added 16.07% over last one month compared to 16.28% gain in BSE Industrials index and 0.85% rise in the SENSEX Permanent Magnets Ltd gained 12.25% today to trade at Rs 898. The BSE Industrials index is up 0.38% to quote at 15136.93. The index is up 16.28 % over last one month. Among the other constituents of the index, Rama Steel Tubes Ltd increased 9.08% and Cochin Shipyard Ltd added 8.19% on the day. The BSE Industrials index went up 4.54 % over last one year compared to the 8.47% surge in benchmark SENSEX. Permanent Magnets Ltd has added 16.07% over last one month compared to 16.28% gain in BSE Industrials index and 0.85% rise in the SENSEX. On the BSE, 14391 shares were traded in the counter so far compared with average daily volumes of 10089 shares in the past one month. The stock hit a record high of Rs 1199 on 08 Jul 2024. The stock hit a 52-week low of Rs 600 on 17 Mar 2025.
