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Mazagon Shipyard receives an order from Europe
Dr.G.R.Balakrishnan Dec 18 2023 Shipping News

Mazagon Shipyard receives an order from Europe

The state owned Mazagon Dock Shipbuilders Limited (MDL) has signed individual Shipbuilding Contracts with the European client for the construction of 3 units of 7,500 DWT Multi-Purpose Hybrid Powered Vessels on December 14, 2023, for a value of  42 million US dollars, the ship building company  said a regulatory filing.

The contract, signed on December 14, 2023, outlines the construction of three state-of-the-art 7,500-deadweight ton (DWT) multi-purpose hybrid powered vessels, with a total contract value estimated at around $42 million.

The nature of the order encompasses the comprehensive process of designing, building, and delivering these advanced vessels upon completion, the Mumbai-based shipbuilder said.

The timeline for execution is well-defined, with the delivery of the first vessel slated for 27 months after the contract becomes effective. Subsequent vessels are scheduled to be delivered at intervals of two months.

Mazagon Docks reported revenue of operations worth Rs 1,827 crore for the September quarter, which is higher than the Rs  1,702 crore it reported during the same quarter last year. Net profit for the period also increased to Rs 332.9 crore, compared to Rs 213.9 crore in the year-ago quarter.