Shipping Corporation of India plans to double fleet of offshore supply vessels
The Shipping Corporation of India (SCI) is currently busy finalising its acquisition plan for various types of offshore supply vessels (OSVs) such as anchor-handlers, platform supply vessels and multi-purpose supply vessels. “We’ll firm up our plan and place it before our Board for approval shortly,” a spokesman for SCI told Business Line. Right now, SCI has 10 such vessels of its own and the plan is to double the fleet size within the next few years. The total cost of the proposed acquisition would depend on the types of vessels to be acquired — ranging from $20 million (80-tonne capacity) to $100 million (Medium Systems Vehicles) each.
Government approval would be needed only if the total cost of acquisition exceeded Rs 500 crore, the spokesman said, adding that it would be another two to three years from the date of placing orders before the deliveries take place.
Last year, the shipping line placed orders for four 80-tonne anchor-handlers costing about $80 million with Bharti Shipyard, the deliveries being due in 2010-11.
In addition to its own OSVs, SCI also operates 21 other such vessels, including five medium systems vehicles belonging to the Oil & Natural Gas Corporation.
The exemption granted to the Indian flag carriers by the Director General of Shipping in regard to operation of old ships in Indian waters, it is felt, might prompt some of the Indian shipowners to acquire on charter not-so-new OSVs and press them into operation in the country to meet the growing requirement of the country’s oil sector.
One reason for this is relatively better availability of not-so-new OSVs in the market caused by the suspension of OSV production worldwide for nearly a decade.
A private sector shipping firm is already seriously considering in-chartering of OSVs and oil rigs through its wholly owned overseas subsidiary, it is learnt.
Government approval would be needed only if the total cost of acquisition exceeded Rs 500 crore, the spokesman said, adding that it would be another two to three years from the date of placing orders before the deliveries take place.
Last year, the shipping line placed orders for four 80-tonne anchor-handlers costing about $80 million with Bharti Shipyard, the deliveries being due in 2010-11.
In addition to its own OSVs, SCI also operates 21 other such vessels, including five medium systems vehicles belonging to the Oil & Natural Gas Corporation.
The exemption granted to the Indian flag carriers by the Director General of Shipping in regard to operation of old ships in Indian waters, it is felt, might prompt some of the Indian shipowners to acquire on charter not-so-new OSVs and press them into operation in the country to meet the growing requirement of the country’s oil sector.
One reason for this is relatively better availability of not-so-new OSVs in the market caused by the suspension of OSV production worldwide for nearly a decade.
A private sector shipping firm is already seriously considering in-chartering of OSVs and oil rigs through its wholly owned overseas subsidiary, it is learnt.