ABG Shipyard Limited

  • Shipyards

ABG Shipyard Limited is an Indian company involved in the business of shipbuilding and ship repair. Here is an overview of the company:


Overview:



  1. Foundation and Location:



    • Founded in 1985, ABG Shipyard Limited is based in India.

    • The company has its registered office in Mumbai and operates shipyards in Dahej and Surat, both located in the state of Gujarat, India.



  2. Business Focus:



    • The company specializes in building a wide range of ships, including bulk carriers, offshore vessels, container ships, aircraft carriers, and more.

    • ABG Shipyard also engages in ship repair and maintenance services.




Historical Context:



  1. Growth and Expansion:



    • ABG Shipyard experienced significant growth in the early 2000s, becoming one of the prominent private sector shipbuilding companies in India.

    • The company has delivered vessels to various clients globally, contributing to both the civilian and defense sectors.



  2. Financial Challenges:



    • Despite its initial success, ABG Shipyard faced financial difficulties, particularly during the late 2010s.

    • Excessive debt and poor financial health led to insolvency proceedings.

    • In 2017, ABG Shipyard was among the companies listed by the Reserve Bank of India (RBI) to undergo insolvency resolution under the Insolvency and Bankruptcy Code (IBC).




Recent Developments:



  1. Insolvency Proceedings:



    • The National Company Law Tribunal (NCLT) oversaw the insolvency proceedings for ABG Shipyard.

    • Various attempts were made to find a resolution, including efforts to sell the company's assets or bring in new investors.



  2. Impact on the Sector:



    • The challenges faced by ABG Shipyard have had broader implications for the shipbuilding industry in India, emphasizing the need for sustainable financial practices and potentially drawing attention to policy reforms.




Products and Services:



  1. Shipbuilding:



    • The company has delivered over 165 vessels, including specialized ships such as anchor handling tug supply (AHTS) vessels, diving support vessels, and multi-purpose support vessels.



  2. Ship Repair:



    • ABG Shipyard offers comprehensive repair services for various types of ships, contributing to its service portfolio.




Key Takeaways:



  • ABG Shipyard Limited was once a prominent player in India's shipbuilding industry but faced significant financial distress.

  • The company's insolvency proceedings have made it a case study in the challenges faced by the shipbuilding sector in India.

  • Despite its struggles, ABG Shipyard's contributions to shipbuilding remain noteworthy, having built a diverse range of vessels for both domestic and international clients.


For the latest and most specific information, it would be beneficial to refer to recent updates from financial news sources, company filings, or official announcements.


Ships

IEVOLI CORAL

Supply Vessel | Flag: Italy | Port: NAPOLI

LYSBLINK SEAWAYS

Gen. Cargo/Container Ship | Flag: United Kingdom | Port: DOVER

LYSBRIS SEAWAYS

Gen. Cargo/Container Ship | Flag: Norway | Port: OSLO

LYSVIK SEAWAYS

Gen. Cargo/Container Ship | Flag: Norway | Port: OSLO

MARIDIVE 208

Tug | Flag: Egypt | Port: PORT SAID

MARIDIVE 212

Supply Vessel/Tug | Flag: Egypt | Port: PORT SAID

MARIDIVE 229

Supply Vessel/Tug | Flag: Belize | Port: BELIZE

MARIDIVE 230

Supply Vessel/Tug | Flag: Belize | Port: BELIZE

MARIDIVE 231

Supply Vessel/Tug | Flag: Belize | Port: BELIZE

MARIDIVE 232

Diving Support Vessel | Flag: Belize | Port: BELIZE

PFS BRAVE

Supply Vessel | Flag: India | Port: MUMBAI

PFS COURAGE

Supply Vessel | Flag: India | Port: MUMBAI

SEA BADGER

Supply Vessel/Tug | Flag: Panama | Port: PANAMA

SEA FOX

Supply Vessel/Tug | Flag: Cyprus | Port: LIMASSOL

SEA JACKAL

Supply Vessel/Tug | Flag: Cyprus | Port: LIMASSOL

SEA STOAT

Supply Vessel/Tug | Flag: Cyprus | Port: LIMASSOL

SEA VIXEN

Supply Vessel/Tug | Flag: Cyprus | Port: LIMASSOL

SEA WEASEL

Supply Vessel/Tug | Flag: Malaysia | Port: PORT KELANG

SHADDAD

Diving Support Vessel | Flag: Qatar | Port: DOHA

TAG-5

Supply Vessel/Tug | Flag: India | Port: MUMBAI

TOPAZ ADDAX

Supply Vessel/Tug | Flag: Marshall Islands | Port: MAJURO

TOPAZ ORYX

Supply Vessel/Tug | Flag: Marshall Islands | Port: MAJURO

VARADA BUZIOS

Supply Vessel | Flag: Singapore | Port: SINGAPORE

VARADA IBIZA

Supply Vessel | Flag: Singapore | Port: SINGAPORE

VARADA ILHEUS

Supply Vessel/Tug | Flag: Cyprus | Port: LIMASSOL

VARADA IPANEMA

Supply Vessel | Flag: Singapore | Port: SINGAPORE

VARADA MARESIAS

Supply Vessel | Flag: Singapore | Port: SINGAPORE

VARADA SANTOS

Supply Vessel | Flag: Singapore | Port: SINGAPORE

Maritime News

European Ports Slow to Install Shore Power

European Ports Slow to Install Shore Power

an hour ago
Most European ports are lagging in installing the shore-side electrical infrastructure needed for ships to switch from highly polluting marine fuel to cleaner electricity while docked, a new study showed on Tuesday.European Union environmental rules have set a 2030 deadline for maritime ports to install the infrastructure to provide what is known as onshore power supply (OPS).To assess their roll-out, Brussels-based NGO Transport & Environment (T&E) commissioned a study covering 31 European ports.Findings show that just one in five of the required power supply connections have been installed or contracted so far, with slow uptake across most ports.
Search Called Off for Crew Missing from Eternity C

Search Called Off for Crew Missing from Eternity C

2 days ago
Maritime agencies Diaplous and Ambrey said on Sunday they had ended their search for the remaining crew of the Eternity C cargo ship that was attacked by Yemen's Houthi militants last week.The decision was made at the request of the vessel's owner, both agencies said.The Liberia-flagged, Greek-operated Eternity C sank on Wednesday morning following attacks over two consecutive days, according to sources at security companies involved in the rescue operation.Ten of the ship's complement of 22 crew and three guards were rescued. The remaining 15 are considered missing, including five who are believed to be dead, maritime security sources said.
Vard, Inkfish Sign Shipbuilding Contract for New Research Vessel

Vard, Inkfish Sign Shipbuilding Contract for New Research Vessel

4 days ago
Vard, the Norwegian subsidiary of the Group and one of the world's leading builders of specialized vessels, has signed a new contract with the US research organization Inkfish for the design and construction of an advanced research vessel. The deal is valued at over USD$233 million (€200 million).The custom-built research vessel, designated Project RV6000, is specifically designed for scientific exploration. It will join Inkfish's expanding fleet, alongside the RV Hydra and RV Dagon, to support global marine research. In close collaboration with host countries, the data collected will contribute to open-source repositories.
Six Crew Saved, 15 Remain Missing After Eternity C Cargo Ship Sinks in Red Sea

Six Crew Saved, 15 Remain Missing After Eternity C Cargo Ship Sinks in Red Sea

4 days ago
Rescuers pulled six crew members alive from the Red Sea after Houthi militants attacked and sank a second ship this week, while the fate of another 15 was unknown after the Iran-aligned group said they held some of the seafarers.The Houthis claimed responsibility for the assault that maritime officials say killed four of the 25 people aboard the Eternity C before the rest abandoned the cargo ship. Eternity C went down Wednesday morning after attacks on two previous days, sources at security companies involved in a rescue operation said.The six rescued seafarers spent more than 24 hours in the water, those firms said.
Four Dead, 15 Missing After Houthi Attack on the Eternity C

Four Dead, 15 Missing After Houthi Attack on the Eternity C

5 days ago
Rescuers pulled six crew members alive from the Red Sea on Wednesday and 15 were still missing from the second of two ships sunk in recent days in attacks claimed by Yemen's Iran-aligned Houthi militia after months of calm.Four of the 25 people aboard the Eternity C cargo ship were killed before the rest of the crew abandoned the vessel, which sank on Wednesday morning after being attacked on Monday and Tuesday, sources at security companies involved in a rescue operation said.The six seafarers who were rescued had spent more than 24 hours in the water, they said.The Houthis said on Wednesday they had sunk the Eternity C.