Marine Log - October 2007 - (Page 37) A platform supply vessel built by Bharati Shipyards support industry zone in joint venture with foreign partners to produce steel plates and assemble diesel engines of 6,000 hp and other marine equipment. For 2006-2010 plans include continuing the upgrade of Nam Trieu Shipyard to handle larger containerships and setting up groups of shipbuilders in Dung Quat, Dong Nai and Ca Mau, with Dung Quat being able to handle tankers of up to 100,000 dwt. In the period 2010-2020, plans include gradually reallocating shipyards situated inside the cities of Hai phong, Ho Chi Minh City and Da Nang to industrial zones outside the cities. This July, Vinashin said it would speed up its key projects after a $87.5 million bond issue that set a record for a Vietnamese enterprise—with 95% of the issue going to foreign investors. In addition, the group has received a $600 million loan from a Swiss bank that will be used in its affiliates’ key projects. I N D I A N D E V E L O P M E N T A WA I T S S U B S I D Y RENEWAL Up until the end of August this year, India’s shipbuilding industry was on a roll, with yards alternately announcing development plans and new export orders. The industry has just reached the end of a five-year plan where, with the aid of a 30% subsidy and a global boom in ship demand, it had seen its order book grow to 1.3 million dwt by the end of the first quarter of this year. During the justended five-year plan, the industry’s growth rate has gone from 4.5 to 15% and its share of the world market from a barely perceptible 0.1 to 1.3%. And of 1.28 million dwt ordered during the five year plan period, more than 1 million dwt was for export. None of this is likely to cause alarm bells to ring in Korea, but it does show that some perceptive international shipowners have recognized India’s potential. Something else to note is that, because of capacity restraints, India’s achievements have mostly been in such segments as the offshore service vessel market. Indian shipbuilding is mainly centered around 27 shipyards, six owned by the central government, two by state governments and 19 privately owned. Only the government owned Cochin Shipyard Limited (110,000 dwt) and www.marinelog.com OCTOBER 2007 MARINE LOG 37 http://www.omnithruster.com http://www.omnithruster.com http://www.marinelog.com
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