Bharati and ABG Lead Delivery Delays in India

23 August 2009 (Last Updated August 23rd, 2009 18:30)

Half of the vessels that have been delayed at Indian shipyards are being built at two of the country’s largest yards, ABG Shipyard and Bharati Shipyard, it has been revealed. The total number of vessels being delayed (69) amount to nearly 28% of the country’s entire order book, Drewry

Half of the vessels that have been delayed at Indian shipyards are being built at two of the country’s largest yards, ABG Shipyard and Bharati Shipyard, it has been revealed.

The total number of vessels being delayed (69) amount to nearly 28% of the country’s entire order book, Drewry Shipping Consultants said.

According to Credit Analysis & Research (India) and Clarkson Research Services (UK), India has received 248 orders compared to 277 received by South Korea’s Hyundai Heavy Industries.

Among the vessels currently experiencing delays are six bulk carriers worth $36m each, 32 OSVs, three passenger ships, ten dry cargo ships and six tankers.