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Colombo Dockyard eyes wind installation sector

Colombo Dockyard eyes wind installation sector

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Amid a severe ordering drought, Sri Lanka’s only shipbuilder is having to seek alternative revenue streams.

Colombo Dockyard, which received just one order in 2016, is looking at getting into passenger vessels, as well as servicing the up and coming wind installation vessel sector.

“As countries across the globe begin to seek out sustainable solutions to meet their energy requirements, we anticipate that our early steps into this new market will yield strong positive results for the company over the medium to long term,” the yard’s CEO, D.V. Abeysinghe said in his annual review to shareholders.

Colombo Dockyard has been hit by a string of offshore cancellations and has seen its revenues drop by 50% last year.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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