Monday, October 12, 2020

Colombo Dockyard to assemble six eco bulk carriers for a Norwegian Company

 


Colombo Dockyard PLC (CDPLC) is moving towards the execution of an already signed contract with Norwegian company Misje Eco Bulk AS (Misje) to build six firms plus four optional eco bulk carriers. The agreements were signed on 14 March but expected to come into effect only in September with final board approval from the owners.

Mise Eco Bulk AS is a wholly-owned subsidiary of Kåre Misje & Co. This Norwegian family-owned company holds a group of companies offering a full package of services from chartering and operation to technical and financial administration. These 89.95 m long vessels are designed to accommodate 5,000 DWT of cargo space. The type of freight they may carry includes bulk cargo, grain, timber, containers, and unit loads. Each vessel has powered by a 4-stroke diesel engine with an electric hybrid system that supplies additional power through a battery. These vessels are built as environmentally friendly vessels, as they have lower emissions compared to the same-size traditional bulk carriers.

Wartsila Ship Design Norway AS establishes the idea and basic design of the groundbreaking bulk carriers, and CDPLC conducts the comprehensive system. The series' first vessel expects to deliver in 18 months, and the following containers will ship at intervals of 4 months. It highlights CDPLC 's active marketing activities in a complex world amid the negative impacts of last year's Easter Sunday incident and currently facing the COVID-19 pandemic.

CDPLC has concentrated extensively on the European market, in particular for the construction of eco-friendly bulk carriers, cable laying and repair vessels, service activity vessels, etc., which are in demand. CDPLC is hugely confident that the capacity and experience gathered by CDPLC over the past four and a half decades of shipbuilding expertise have served these emerging requirements in Europe.

Moreover, this shows the international prestige of the CDPLC as one of South Asia's most competitive and successful shipbuilding and ship repair facilities. CDPLC has a 35 per cent shareholding of government institutions in Sri Lanka. As a shipbuilding industry pioneer in Sri Lanka, CDPLC continues to demonstrate its excellence through the successful securing and execution of shipbuilding projects worldwide and is one of Sri Lanka's leading industrialists.

OSL Take: Having accepted such a large contract, Colombo Dockyard has proven that it can build or repair large ships. In Sri Lanka's goal of becoming recognised as a global logistics hub, this will prove vital as it will indicate that the country has the necessary facilities to undertake essential repairs and accept shipbuilding contracts. Interesting shipbuilding firms can approach Colombo Dockyard with business proposals or enter the country's shipbuilding business as it is an area that has room for expansion since only a few players are currently operating within the industry.

Sri Lanka's Dockyard business is an excellent example of a successful collaboration between a Sri Lankan and foreign company. The company's business scope has expanded through time from ship maintenance to shipbuilding, which is suggestive of the growing business capacity in the country. Sri Lanka's shipping and naval sectors are currently undertaking a development program, which is also part of the overall development program launched by the government of Sri Lanka.

 VBS/AT/12/10/2020/Z_TB6

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