Cochin Shipyard, Synergy Marine tie up for shipbuilding and repair projects

New Delhi: State-owned Cochin Shipyard Ltd (CSL) and Singapore-based Synergy Marine Group have signed an initial agreement to jointly pursue shipbuilding, repair and vessel conversion projects in India.

The memorandum of understanding (MoU) will combine CSL’s shipbuilding and industrial infrastructure with Synergy’s expertise in engineering, owners’ representation, project management and long-term technical management, Synergy Marine said on Tuesday.

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The partnership will explore opportunities across new ship construction, ship repair and conversion, module fabrication and oil and gas projects.

Focus on newbuilds and conversions

Under the agreement, Synergy may also provide technical and strategic advisory support for CSL’s newbuilding projects, including project planning, execution and quality assurance.

“A vessel’s long-term performance is shaped well before it enters service,” Synergy Marine Group CEO Jesper Kristensen said, adding that combining the group’s experience with CSL’s industrial capabilities would provide a platform to develop shipbuilding and conversion opportunities in India.

Synergy said it has supported the delivery of more than 250 newbuilding projects. Its current portfolio includes more than 150 vessels under construction at 20 shipyards across six countries.

The company also has experience in converting LNG carriers into floating storage and regasification units (FSRUs), besides engineering work for floating storage and LNG bunkering projects.

Its conversion services cover feasibility studies, engineering design, equipment procurement, site supervision and commissioning, as well as preparations for operations and subsequent technical management.

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Eye on international projects

Cochin Shipyard Chairman and Managing Director Jose V J said India has an opportunity to attract technically complex maritime projects from international customers.

“Building that business requires strong shipyard facilities supported by engineering expertise, project discipline and skilled people. Synergy’s newbuilding and conversion experience complements CSL’s capabilities,” he said.

The partnership comes as India seeks to expand its domestic shipbuilding and ship-repair ecosystem and capture a larger share of the global maritime market.

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