Skip to main content

HSL bulk carrier may be sold to the Indian Navy


Hindustan Shipyard Limited has launched an exercise to explore the possibility of selling a bulk carrier under construction at the yard to the Indian Navy with the Chennai-based Goodearth Maritime Limited failing to settle its dues for nearly a year after placing the order under Diamond Series of 53,000 DWT bulk carriers.

The bulk carrier, on which HSL has completed 70 per cent of the work, is lying idle at the outfitting jetty blocking the space for undertaking other activities. GML, for one reason or the other, has defaulted in payment of nearly Rs.20 crore. Despite several reminders, they have not cleared the dues.

Now by involving GML, HSL is exploring selling the bulk carrier to the Navy. The latter has also evinced keen interest. “It is at initial stage as we have started tripartite negotiations,” HSL Chairman and Managing Director Rear Admiral N.K. Mishra told The Hindu .

HSL completed the delivery of four bulk carriers of 30,000 DWT under Trader Series in 2009 for GML. Later, it signed an MoU with GML under Diamond Series of which the last one – DNV classed double bottomed bulk carrier m.v. Good Pride was delivered in 2010 as per the stipulations made by Indian Registrar of Shipping and American Bureau of Shipping. HSL and GML subsequently dropped signing agreement for construction of the sixth bulker.

HSL, which is facing severe working capital crunch, is keen on floating out the bulker under construction as fast as possible. Sources in HSL said once they get funds, they could deliver the vessel within three to four months.

The shipyard, which was transferred to the Ministry of Defence in 2010 from Ministry of Shipping at present, has an order book of Rs.215 crore – mostly for ship repairs.

It is confident of making a turnaround once the long awaited orders for Landing Platform Docks, Strategic Operating Vessels and Fleet Support Ships, all at a total value of around Rs.25,000 crore are placed in next few months.

followed by, www.defencenews.in

Comments

Popular posts from this blog

Top 10 Best Sainik Schools In India as per NDA Selection

In this article you will get to know about Best Sainik Schools in India, Best Sainik School of India and top 10 Sainik schools in India When India became independent, most of the officers in the defense at that time used to come from elite families. To rectify the regional and class imbalance amongst the Officer cadre of the India Military, V.K Krishna Menon came up with the idea of Sainik Schools. The idea was to prepare students for Entry in the NDA. In Sainik Schools, deserving students can get high-quality education irrespective of their income or class background. The mission of Sainik schools is to prepare the cadets academically, physically, and mentally to enter the portals of the NDA. Today there are 33 Sainik schools running and proposed for future covering all the states of the country. But it has always been a topic of discussion that which of these is the best Sainik School school in India. Why do children take admission in Sainik Schools?  So that they can become offi...

Retirement Age of Troops in Army, Air Force & Navy Set to Increase, Says CDS General Rawat

Chief of Defence Staff General Bipin Rawat has said that the retirement age of jawans in the Army, airmen in the Indian Air Force (IAF) and sailors in the Navy will be extended as it could benefit nearly 15 lakh men of all three armed forces.  “We are soon bringing a policy to extend the service profile of the men (forces nomenclature for troops) and have an increased minimum retirement age,” said General Rawat in an exclusive interaction with The Tribune yesterday. On being asked if he was looking to cut down the manpower costs as rising salaries and pensions were taking away a large portion of the budget, General Rawat said, “I am looking at manpower costs. Why should a jawan serve for just 15 or 17 years, why cannot he serve for 30 years? We are losing trained manpower.”  Easing fears that this policy would change the age profile of the fighting force, he said that the frontline combatant could be young. “We have an Army Medical Corps, why can’t the nursing assistant serve ...

Indian Army is hiring! Latest notification released for various posts @ joinindianarmy.nic.in, apply now

 Indian Army Recruitment 2020: Candidates can check eligibility criteria, educational qualification, experience, selection criteria and other details here. Indian Army is hiring! Latest notification released for various posts @ joinindianarmy.nic.in, apply now indian Army Recruitment 2020: The Indian Army has opened the online applications for JAG 26 Entry, SSC Technician 56 and SSCW Technician 27 Entry April 2021. The online application for JAG-26 (APR 2021) (MEN & WOMEN) course will be open from today onwards.i.e. October 13, 2020 at 3 pm, while the online applications for SSC(TECH)-56 AND SSCW(TECH)-27 (APR 2021) courses will open from October 14 onwards. Interested candidates will be able to apply through online mode only at joinindianarmy.nic.in. Candidates can apply for Indian Army JAG-26 April 2021 from November 11. Here's the direct link of official notification. Vacancy Details JAG-26 (APR 2021) (MEN & WOMEN) - to be announced SSC(TECH)-56 - to be announced SSCW(TE...