Sri Lanka's Colombo Dockyard delivered the second of a pair of passenger vessels for an Indian customer but warned profitability could dip this year owing to the e
ffects of recession and growing competition.Managing director Mangala Yapa said the yard's order book for new buildings was full but it faced tough competition especially from Chinese yards in the repair business.
Yapa said he was confident the yard would do well this year too having had sales of 12 billion rupees and profits of two billion last year.
"Now we're experiencing tough competition from Chinese yards," he said in a speech to flag off the new vessel.
"There could be some drop in profitability because of the competitive nature of the market."
The yard , which books profits on vessel delivery, Thursday delivered the second of a pair of passenger craft for India's Lakshadweep islands.
The vessel, which can carry 250 passengers and 100 tonnes of cargo, was built for the Administration of Union Territories of Lakshadweep and is named Lakshadweep Sea.
She set sail from Colombo port to join her sister vessel, Arabian Sea, which was delivered in January 2010 and will operate between the Indian mainland ports like Cochin and the Lakshadweep island, as well as in the inter-island routes.
Colombo Dockyard said the vessels were the biggest hulls built by the yard and are meant for operation in all weathers.
Passengers have different categories of accommodation on the vessels, with two VIP cabins, 10 first class, 40 second class and 200 normal class passenger transportation facilities. All passenger compartments are fully air conditioned using an air conditioning system.
Yapa said that peace has given a fillip to the yard's marketing efforts and helped win new customers.
"The emergence of peace and stability has helped us expand our marketing activities."
The yard this signed signed a deal to build two offshore oil platform supply vessels for a Singapore customer.
"In ship repair too we were able to attract many new clients particularly from Europe and the Far East who had been reluctant to come to Colombo earlier because of the war."
The island's 30-year ethnic war ended in May 2009 leading to the removal of marine war-risk insurance advisories and faster economic growth.
Related Info:
Sri Lanka Dockyard Wins Contract for Two Multipurpose Platform Supply Vessels (MPSVs) for Greatship Global Offshore Services of Singapore
Sri Lanka's Colombo Dockyard Delivers Supply Vessel to Singapore's Greatship Global Offshore Services
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.