Cochin Shipyard launches vessel in Andaman & Nicobar

Cochin Shipyard Limited (CSL) informed that it has launched the first of the two 1,200 pax capacity passenger vessel cum 1,000T cargo vessel under construction for the Andaman & Nicobar at CSL’s Kochi yard.

Andaman and Nicobar Administration have given an order of four vessels to the company, having capacity of 500 pax and 1,200 pax, with a total value of Rs 1,313.46 crore. As of Q2FY20-end, the order value remained at 50 per cent of the total value. After commissioning of the above vessels, revenue recognition in range of Rs 220 crore to Rs 320 crore can be expected during the current quarter.

The all-weather operation on the main land to Andaman & Nicobar route vessel is designed with modern high-quality passenger vessel with electric propulsion suitable for carrying 1,200 passengers and 1,000T cargo.

The ship is built to the highest standards of Indian Register of Shipping (IRS) and Lloyd’s Register of Shipping overseen by DG Shipping of India and meets the requirements of ‘Class III Special Trade Passenger Ship’ as per Indian Merchant Shipping rules.

Reacting to the news, the stock opened higher on Wednesday by nearly 3 per cent. The stock closed down by 1.09 per cent at Rs. 385.20 on BSE.