Hindustan Shipyard hands over vessel Good Trade to

Goodearth Maritime

Hindustan Shipyard Ltd,  functioning under the Union Ministry of Defence, has overcome many of its problems and is on the verge of a turnaround, according to the Flag Officer Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral Anil Chopra.

He was the Chief Guest at a function in the shipyard to hand over the third 53,000-DWT diamond series bulk carrier -m.v.Good Trade - to the Chennai-based Goodearth Maritime Ltd (GML).

Vice-Admiral Chopra commended HSL for building the ship in 22 months and said he was confident HSL would deliver warships as well as merchant vessels on schedule in future. He said there was immense scope in the country for building warships as well as merchant vessels. He said there was a perceptible change for the better in HSL and it augured well.The association between the Navy, the Indian Coast Guard and HSL would be of mutual benefit, he added.

The Chairman and Managing Director of HSL, Rear-Admiral N.K Mishra, said it was “a proud moment for HSL to deliver the vessel in 22 months” to GML and the remaining vessels in the series would also be handed over on time.

He said it was vessel no. 167 built by HSL.  HSL had delivered an inshore patrol vessel to the Indian Coast Guard in January and the remaining four would be built and handed over on schedule.

Exuding optimism, he said, “The silver lining is already visible for HSL and there will be sunny days in future. We are modernising the plant and equipment at a cost of Rs. 450 crore sanctioned by the Defence Ministry. In future, we will take up both warships as well as merchant vessels.”

The present order book position was Rs 1,038 crore, with 23 ships on hand. The vessel - Good Trade - is a modern double-hull bulk carrier with a high degree of automation, says the press release issued on the occasion.

The ship is 19 0.00 metres overall in length, 32.26 m breadth, 53,840 T scantling draft, and a speed of 15.20 knots.

The vessel has a 37-member crew and it has been built to DNV classification. 

By Daily Shipping Times

NEWS IN BRIEF

Shipbuilding industry may get boost with Govt's plan to revive subsidy scheme
Private shipbuilders including Bharati Shipyard, ABG Shipyard and Larsen & Toubro are likely to see more orders in the coming years as the central government is looking to revive the subsidy scheme for the shipbuilding industry, nearly five years after it expired in 2007...more

Adani sets go ahead on USD 6 billion plus Carmichael Coal project in Australia
Adani Enterprises is all set to mine 60 million tonnes of coal each year from an open cut and underground mine in Australia, for export to India.
The Carmichael Coal Project in the Galilee Basin is the last undeveloped coal resource in Queensland...more

Hindustan Shipyard hands over vessel Good Trade to Goodearth Maritime
Hindustan Shipyard Ltd,  functioning under the Union Ministry of Defence, has overcome many of its problems and is on the verge of a turnaround, according to the Flag Officer Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral Anil Chopra....more

New FTP supplement may bring cheers to e-commerce exporters
In a first, the forthcoming annual supplement to the Foreign Trade Policy (FTP) could cover the growing exports through e-commerce and provide some incentives to the micro, small and medium enterprises engaged in the business....more

Zero anti-dumping duty on shrimp exports to US
Giving relief to India’s seafood exports sector, the US Department of Commerce (DoC) has cut anti-dumping duty on frozen shrimp exports to nil. The decision will be effective from next year, when the seventh administrative review on anti-dumping duty completes in March 2013....more

Hindustan Shipyard hands over vessel Good Trade to Goodearth Maritime
Hindustan Shipyard Ltd (HSL) here, functioning under the Union Ministry of Defence, has overcome many of its problems and is on the verge of a turnaround, according to the Flag Officer Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral Anil Chopra....More

Inland waterways may get higher allocation in Budget
With Indian Railways unable to provide adequate capacity to move coal, the Government is now shifting focus to inland waterways.
The Shipping Ministry has requested a higher allocation of funds for improving inland waterways through dredging and providing navigation buoys....More

Kerala invites fresh bid for development of Azhikkal port
The Kerala Government has again floated tender inviting private partners for the development of Azhikkal port in North Kerala through public-private partnership (PPP) route...More

The lull of the Shipping Forecast
The Shipping Forecast may provide vital weather information to sea captains and sailors, but some of the most devoted fans are those who listen to it for its poetic quality.
If you went out on the sea today, you would be sure of no big surprise....More

Freight index crashes 66% in 2 months
Freight rates for dry bulk cargo, as reflected by the benchmark Baltic dry bulk index, have crashed in the past two months. The index, at 1,930 on December 12, fell 66.5 per cent to 647 in early February and moved up marginally, to 695, in the past few days......more

Malaysia: Shin Yang Shipping Buys Over 20 Vessels from Swee Joo Bhd
Swee Joo is facing voluntary liquidation due to insolvency since the company has failed to resolve the borrowed amount of RM460mil. Syscorp chief executive officer, Capt Ting Hien Liong, stated that Swee Joo’s vessels were bought for more than RM100mil with bank borrowings and are undergoing maintenance and upgrading works at the value of RM50mil, which will most probably last 6 months..more

Norway: Bourbon Enters Four Charter Contracts
Newbuilding Bourbon Front has been awarded a contract with Allseas for pipelay support starting April this year. The contract is expected to last ca 50 days. ......more

UK: BAE Systems Starts Construction of Second Queen Elizabeth Class Aircraft Carrier
Work on the forward section of the hull, known as Lower Block 02, commenced as Commander-in -Chief Fleet Admiral George Zambellas cut the first steel in a ceremony at the company’s production facility. The huge section, which will weigh around 6,000 tonnes upon completion, will house the ship’s machinery spaces, stores and switchboards, as well as some of the accommodation, including 85 cabins. ......more

USA: Jensen Maritime to Design Largest Freezer Longliner Fishing Vessels
The vessel, Northern Leader, will be constructed by J.M. Martinac Shipbuilding Corporation of Tacoma, Wash. Once built, this vessel will have one of the largest freezer hold capacities of any longliner vessel. Longline fishing is a commercial fishing technique. It uses a long line, called the main line, with baited hooks attached at intervals. ......more