Chowgule bags Rs 400cr overseas vessel orders

The shipbuilding division of Chowgule and Company has bagged overseas orders to build 12 ocean going cargo vessels of 4,450 dead weight tonne (DWT) each with a total estimated cost of Rs 400 crore. The division is also undertaking an investment programme of Rs 40 crore to upgrade the shipyard facilities.

"Out of total 12 vessel orders worth Rs 400 crore, three each from Netherland-based company Navigia and German company Appollo Shipping, four from UK company Union Transport and two from German company Priesse. All vessels are of 4450 DWT capacity which will be delivered in next three years," Chowgule and Company Ltd Executive Director Ashok V Chowgule said.

With this new orders, Chowgule's shipbuilding division is marking change in its profile by building cargo ships, he said. At present, the company is focussing on iron ore barges, passenger vessels, deep sea refrigerated fishing trawlers, grab and cutter suction dredgers, tugs, twin hull catamarans and floating restaurants.

"The shipyard will not be accepting any fresh orders as the capacity is full. It is planning to upgrade its capacity to construct 8 vessels against existing capacity of three years per year," he said.

Chowgule said the company would invest Rs 40 crore to upgrade the existing facilities by inducting advanced machines.

"It has already invested Rs 10 crore and has installed CNC Plasma cutting machine which can cut steel plates of 12 metres," he said.

The shipyard, located at Loutulim (Goa), has a good water front, two construction bays, full fledged workshop, outfitting jetty and sufficient skid for pre-fabrication facility.

Commenting on the possibilities of acquiring minor shipbuilding facilities, Chowgule said that the company is now more focussing on organic growth and would concentrate on ensuring quality of construction and punctuality in deliveries.