Latest news with #MaritimeAmritKaalVision
Time of India
a day ago
- Politics
- Time of India
MP urges Centre for Rani Abbakka Maritime University
Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta, on Tuesday, met the secretary of the ministry of ports and shipping, TK Ramachandran, and urged the establishment of a Maritime University in Mangaluru. He proposed that the university be named after Rani Abbakka as a tribute to the warrior queen who fought valiantly in safeguarding the coast of Bharat. "The Rani Abbakka Maritime University will both pay homage to an iconic national figure and create a future-ready workforce trained in marine engineering, maritime law, port and terminal management, and maritime informatics," said Captain Chowta. In a letter seeking the same, he highlighted that the establishment of the university aligns with Prime Minister Narendra Modi's Maritime Amrit Kaal Vision and the nation's strategic goal to emerge as a global maritime hub. Drawing attention to Mangaluru's geographic advantages, historical significance, and proximity to major ports and educational institutions, Captain Chowta said it would make it an ideal location for such an institution. Chowta also met Union minister of ports, shipping and waterways Sarbananda Sonowal in New Delhi on Wednesday to formally request the establishment of a National Maritime University in Mangaluru and proposed to name it after Rani Abbakka. He proposed that the university offer a wide range of programmes, including BTech, BSc, BBA, MTech, MBA, MSc, and diplomas, catering to the skill development, research, and policy innovation needs of India's maritime advancement. The proposal also seeks the active participation of the New Mangalore Port Authority (NMPA), which is celebrating its golden jubilee this year, in commissioning a detailed project report (DPR). Some of the requests made to the ministry are the constitution of an expert committee to develop the university framework and the initiation of inter-ministerial consultations for stakeholder alignment.
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Business Standard
15-05-2025
- Business
- Business Standard
Cochin Shipyard hits 7-mth high; up 26% in 1 week; what's behind the rally?
Cochin Shipyard share price today: Share price of Cochin Shipyard hit a seven-month high of ₹1,814.90, surging 7 per cent on the BSE in Thursday's intra-day trade in a subdued market amid heavy volumes. The stock price of the state-owned shipbuilding company is trading higher for the fifth straight day, zooming 26 per cent in one week. In comparison, the BSE Sensex was trading 0.1 per cent lower at 12:15 PM. The index gained 2 per cent in one week. Cochin Shipyard stock price is trading at its highest level since September 24, 2024. It had hit a 52-week high of ₹ 2,977.10 on July 8, 2024. The counter has seen huge trading volumes, with a combined 13.53 million equity shares representing 5 per cent of the total equity of Cochin Shipyard changing hands on the NSE and BSE. What's behind the rally in Cochin Shipyard share? The Central and State Governments are working with various stakeholders to promote shipbuilding and ship repair, in line with the Government of India's Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047. According to media reports, HD Hyundai & Cochin Shipyard is in talks for a ₹10,000-crore project. On clarification on news reports on Wednesday, May 14, 2025, after market hours Cochin Shipyard said that the company is also evaluating strategic possibilities with multiple entities which are at various stages. However, at this stage, there is no material event/ information that requires disclosure, the company said. Meanwhile, in February 2025, Cochin Shipyard has entered into a Memorandum of Understanding (MoU) with A.P. Moller – Maersk to explore collaboration opportunities in ship repair, maintenance, and shipbuilding in India. This aligns with the Government of India's Vision 2047 maritime objectives and recent Union Budget 2025-26 announcements to position India among the top global maritime hubs. ALSO READ | 9MFY25 financial performance For April to December period of the financial year 2024-25 (9MFY25), Cochin Shipyard's revenue is up 20.4 per cent year-on-year (YoY) to ₹3062.3 crore, as ship-repair revenue is up 45.7 per cent YoY while ship-building revenue is up 10.6 per cent YoY. During 9MFY25, execution in the ship-building segment (66 per cent of total) has been moderated (revenue grew 11 per cent YoY) while the execution in ship-repair segment remained strong (revenue grew 46 per cent YoY). With strong order backlog (estimated at ₹22,000 crore; ~5x trailing twelve months revenue) and pick-up in execution, we expect revenue growth to remain healthy in the coming period. ICICI Securities view on Cochin Shipyard The company is well positioned to benefit from significant order inflows in both defence and commercial shipbuilding, supported by a strong pipeline. The Indian Navy's plans to acquire warships, including an estimated ₹40,000 crore aircraft carrier, presents a major opportunity for Cochin Shipyard. Additionally, analysts believe that the government's strong focus on improving India's maritime infrastructure will create significant opportunities in commercial ship-building across cargo and passenger segments. The government aspires to position India among the world's top five shipbuilding nations (currently India's position stands at 22 with less than 1 per cent share in the global ship-building market). ALSO READ | Here's why KRN Heat Exchanger shares are buzzing in trade on May 15 Furthermore, talks have begun with leading shipbuilders from South Korea and Japan to promote collaboration and enhance production capabilities in India. Europe also plans to replace its 2,500 vessels with green vessels, creating substantial demand for exports. The ship repair sector also shows promise, bolstered by the company's capabilities and government support. Recently, the company signed a MoU with AP Moller – Maersk to enhance ship maintenance, explore repair, construction opportunities. However, currently, the stock is trading above the brokerage firm's target price of ₹1,700 per share. About Cochin Shipyard Cochin Shipyard is one of the leading shipyards in India, located in the southern state of Kerala. The company was founded in 1972 and is owned by the Government of India. The Company is primarily engaged in shipbuilding and ship repair, catering to both the domestic and international markets. The company is a 'Miniratna', Schedule-'A', Category-I CPSE, which is also a public limited company incorporated and domiciled in India. As at March 31, 2025, the Government of India holds 67.91 per cent of the Company's equity share capital.
Time of India
02-05-2025
- Business
- Time of India
India's 1st transshipment hub inaugurated by PM in Kerala
THIRUVANANTHAPURAM: Prime Minister Narendra Modi on Friday said that the capacity of the Vizhinjam deepwater port will triple in three years, allowing some of the world's largest cargo ships to dock here smoothly. PM said the port will reduce India's reliance on foreign transshipment hubs where 75% of its transshipments currently happen, in what was an obvious reference to Colombo and Singapore. He added that this shift could boost revenue retention and create new opportunities in Kerala. The Rs 8,800 crore Vizhinjam project is India's first dedicated transshipment hub with its natural depth of nearly 20 metres allowing large ships to berth, something that is not possible at the smaller ports in the country. Modi linked the project to India's broader maritime strategy, referring to Maritime Amrit Kaal Vision and India-Middle East-Europe Economic Corridor announced at the G20 summit. While the port itself was under development for years, much of the construction and equipment involved private sector collaboration, particularly Adani Ports , which is operating the terminal. In a lighter vein, PM also commented on the role of private investment in the project. "When the people of Gujarat learn that Adani built such a great port in Kerala, after working on a port in Gujarat for 30 years without building anything like this, they'll be upset with him," he said, drawing laughter from the audience. Highlighting govt's focus on maritime development in past 10 years, Modi mentioned about the 30% reduction in turnaround time of ships at India's major ports. He also said the reformed regulations concerning Indian seafarers, was yielding significant results. While in 2014, the number of Indian seafarers was little over 1.2 lakh, today this has surged beyond 3.2 lakh. The event, held on the birth anniversary of Adi Shankaracharya - a figure Modi often mentioned - highlighted Kerala's growing importance in India's economic and maritime plans. Modi linked the port's opening to the spiritual legacy of the Kerala-born philosopher, saying his teachings laid the foundation for unity and that Kerala is now being positioned as a key part of India's economic future. The port was inaugurated at a time when Kerala's economy faces rising debt and limited fiscal space, with the state govt seeking more central assistance. The PM highlighted several infrastructure projects the Centre has supported in the state, including the long-delayed Kollam and Alappuzha bypasses, as well as new investments like the Kochi shipbuilding and repair cluster.
