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Plate Cutting ceremony of two autonomous electric vessels for ASKO Maritime AS, Norway

Posted On: 2020-11-25 05:30:17 (Time Zone: Arizona, USA)


Plate cutting ceremony of the two Autonomous Electric Vessels being built for ASKO Maritime AS, Norway was held on 25 Nov 2020 at Cochin Shipyard Limited, Kochi. Mr. TorbjØrn Johannson, Chairman of the board for ASKO & ASKO MARITIME, Norway cut the first steel plate for Ship No.BY 146 through Video Conference and Shri Suresh Babu N V, Director (Operations), CSL cut the first steel plate for Ship No. BY 147. The plate cutting ceremony is one of the initial milestones in the vessel construction process.

Shri Madhu S. Nair, C&MD CSL delivered the welcome speech. Mr TorbjØrn Johannson, Chairman of the board for ASKO & ASKO MARITIME, Mr. Kai Just Oslen, Managing Director ASKO MARITIME, Norway addressed the gathering via video conferencing. Senior Officials of CSL were also present.

Cochin Shipyard Limited (CSL), Kochi signed contracts for construction and supply of Two (2) nos Autonomous Electric Ferry for ASKO Maritime AS, Norway with an option to build 2 more identical vessels in 15 July 2020. This Autonomous Electrical vessel project is an ambitious project in Norway partially funded by the Norwegian Government aimed at emission-free transport of goods across the Oslo fjords. These vessels will be managed by M/s. Massterly AS, a company setup to take technical management and operate autonomous vessels, a joint venture between M/s. Kongsberg, the world leader in autonomous technology and M/s. Wilhelmsen, one of the largest Maritime shipping companies. Once in operation, these vessels will create a new bench mark for the merchant shipping world in the field of Autonomous Vessels with Zero Carbon Emission.

The 67 Mtr long vessels will initially be delivered as a Full-Electric Transport Ferry, powered by 1846 kWh capacity battery. After commissioning of autonomous equipment and field trials in Norway, it will operate as a fully autonomous ferry of ASKO that can transport 16 fully loaded Standard EU trailers in one go across the fjords. The vessels are designed by Naval Dynamics, Norway using Kongsberg Maritime systems, with detailed engineering to be carried out by CSL. They will be built under DNV GL Classification and flagged in Norway, under the rule regulations of the Norwegian Maritime Authority.

CSL won this export order after detailed evaluation of various global shipyards and based on its value proposition to the customer. CSL's proven capability & track record to deliver world quality high-end vessels to prestigious clients in Western Europe also found favour with the Client. CSL holds this Contract, obtained within the current constraints posed by the pandemic, in high significance.

This project is expected to catapult CSL into the league of premier Shipbuilding yards in the world capable of handling high tech vessel construction offering sustainable solutions.

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.355.85 as compared to the previous close of Rs. 358.5. The total number of shares traded during the day was 24708 in over 1051 trades.

The stock hit an intraday high of Rs. 363.4 and intraday low of 352.7. The net turnover during the day was Rs. 8859210.


Source: Equity Bulls

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