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i-maritime Newsletter

Italian shipbuilder, Fincantieri, Indian market - 2011-10-03

The Italian shipbuilder Fincantieri is bullish on the Indian market and is hopeful of further strengthening its ties with India for delivery of vessels to the Navy, according to the Chairman, Mr Corrado Antonini.
He was speaking to the press here on Saturday, after INS Sakti, a 27,550-tonne fleet tanker, was commissioned at the naval dockyard by the Navy Chief Nirmal Verma. It was built by the Italian shipyard.
Mr Antonini said Fincantieri had earlier delivered another ship, Deepak, in January, and also an oceanographic vessel, Sagar Nidhi, for the National Institute of Ocean Technology, Chennai. “We are also involved in the design of the propulsion system of the indigenous aircraft carrier currently being built by India at the Cochin shipyard,” he said.
He added that Fincantieri, with a turnover of €3 billion, was ranked number five in the global industry and it was the number one in building cruise ships. “It is a difficult task to build a cruise ship, as so many complex technologies are involved. But in India we are building ships for the Navy and we are also interested in assisting the Indian shipyards in construction of vessels,” he said.
Mr Antonini said the global scenario was very bleak, as the shipbuilding industry was passing through a difficult phase which may last till the end of the decade. “However, our company has certain niche markets. We specialise in those areas and have to an extent escaped the downtrend. But, in general, it is not encouraging. The Chinese have entered the market in a very aggressive manner and are giving the Koreans a stiff competition,” he said.
He said many countries, such as the US, Iraq, Turkey, the UAE and Algeria, were strengthening their navies and “we are delivering ships to all these countries. We were awarded a major order by the US Navy for 10 littoral combat ships. We will build those ships in the shipyards we have in the country.”
He added that both Deepak and Sakti - the warships built for India - had double hull, making them safer, and in accordance with the regulations of the International Maritime Organisation. “We have constructed these fleet tankers in less than 36 months and delivered them ahead of schedule, fully complying with all the quality standards and requirements of the Indian Navy,” he explained.

Source: Hindu Business Line