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Friday, June 13, 2014

Western India Shipyard: A turnaround case
Last month Western India Shipyard Ltd (Rs.3.05) secured two prestigious repair orders from its esteemed clients namely, Coast Guard Vessel ICGS Sangram and M.T. Hansa Prem of Mercator Lines, for major repairs. The company has 4 vessels undergoing extensive repairs in its shipyard namely, M. V. Quing of Sahara Shipping, M. V. Casino Royal of Deltin Group; Caravel Pride of Caraval Logistics and Crane Barge S. C. Mallinath. 

According to my close sources, the company is likely the get a couple of large orders from the Indian defense departments. Also, with the revival of the mining in Goa, both its parent company, ABG Shipyard Ltd and it  will be benefited in  a large way. 
The scope of repairs includes surface protection, steel renewal, deck equipment, and other civil, electrical, mechanical and navigational equipment jobs. The company has received a new vessel from Timblo Dry docks for outfitting of crew accommodation. The approximate value of the repairs is about Rs.10.25 crore.

Western India Shipyard Ltd (WISL) offers services such as routine maintenance and damage repairs, cargo hold/tank space blasting and coating, main engine overhauls, rudder, propeller and tail shaft repairs, and cargo gear overhaul and repairs.

ABG Shipyard ltd has become a Promoter Company of Western India Shipyard ltd and WISL is a member of the ABG Group of Companies.
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