Pipapav Shipyard bags Rs 2050-cr order for 26 panamax carriers
Domestic shipbuilding and offshore fabrication major Pipapav Shipyard today said it has bagged an order for building 26 Panamax Bulk Carriers worth about Rs 2,050 crore.
The 26 ships on Pipavav Shipyards order book are all of the same design and total almost two million tonnes, giving it the largest orderbook in India. This order placed Pipavav Shipyard at number two in the world for panamax carriers ahead of Japan and China, the company said in a statement.
The company performed a steel-cutting ceremony yesterday prior to commencing the project. With a capacity of 74,500 tonnes, the Panamax carriers are the largest ships being built in India, it said and added the delivery of these vessels is likely to begin from next year.
Pipavav Shipyard will also set up ship-repair facilities to take advantage of the lack of high-quality repair yards between the Gulf and Singapore besides seeking to enter the naval and ship repair sector to cater to the burgeoning needs of the Indian Navy, the statement added.