Colombo Dockyard eyes over US $ 80mn from shipbuilding and repairing operations this year

• By Nishel Fernando

Colombo Dockyard PLC (CDPLC) is confident of generating over US $ 80 million forex revenue through shipbuilding and ship repairing operations this year. 
“We are en route to generate US $ 80 million foreign exchange earnings into the country through shipbuilding and ship repairing activities this year,” Colombo Dockyard PLC Managing Director/CEO D.V. Abeysinghe told reporters on the CDPLC premises in Colombo, this week.
The company’s shipbuilding segment is set to take off this year, with at least four vessels scheduled to be delivered to its European clients. 

Marking another milestone in CDPLC’s shipbuilding portfolio, the company on Monday ceremoniously launched the 5,000 DWT bulk carrier II, built for Misje Eco Bulk AS, part of Norway’s shipowning group Kåre Misje & Co. The vessel is scheduled to be delivered on the latter part of March this year.
This was the second vessel built by CDPLC for Misje, who was the very first European client of the company.
In 2020, CDPLC signed a contract with Misje to build six 89.95-metre-long eco bulk carriers, with the capacity of 5,000 DWT. The company delivered the first 5000 DWT bulk carrier in September last year, which was its very first vessel built for a 
European client.

The vessel launched on Monday was 89.95 meters in length, 15.40 meters in breadth, 9.20 meters in depth and was designed to hold a cargo capacity of 5,000 DWT. It is built to carry bulk cargo, including grain, timber, unit loads and containers. Each vessel is powered by four-stroke diesel engines, with an electric hybrid system supplying additional power through a battery stooge system.
According to CDPLC, the bulk carrier has been developed as an eco-friendly vessel by enabling it to have lower emissions compared to conventional bulk carriers of the same size. 
Abeysinghe shared that the first few vessels are offered to Misje at a discounted price of around US $ 10 million each, in order to break into the European market.  CDPLC is expecting to sign a contract to build four more vessels for Misje 
in the future. 

Meanwhile, CDPLC in November launched Sophie Germain cable laying vessel built for France’s Orange Marine. The vessel is scheduled to be delivered in April this year. The vessel would enable Orange Marine to lay and repair both telecom and energy cables 
at sea. 
Abeysinghe revealed that CDPLC plans to begin negotiations to build another vessel for Orange Marine.
Meanwhile, he revealed CDPLC is on the track to earn US $ 48 million from its ship repairing segment this year.
CDPLC aims to position itself as a highly recognised brand in the European market.