Cochin Shipyard to list

Cochin Shipyard to list

Cochin Shipyard is going for an initial public offering to help it expand facilities to build larger ships. The government gave its blessing for the IPO yesterday.

The listing involves the sale of 34 million equity shares at Rs.10 each.

The yard will build a new ship repair facility at Cochin Port Trust plus a new larger drydock to build bigger ships – including suezmaxes, rigs and large boxships – with the cash raised. It will be the first of India’s fiver state-run yards to list. It is the only one of the five making any profits.

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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