Offshore Prospects

Mar 03, 2010 (LBO) – Sri Lanka’s Colombo Dockyard, a listed ship builder, said it will deliver six vessels this year and will focus more on offshore work with the search for oil off the island’s north-west coast. More than half the yard’s business comes from India.

Nakauchi also said exploration for oil and gas that began last year off the north-west coast offers more business opportunities.

The yard has built up experience in building and repairing vessels for the offshore petroleum industry in recent years.

“The company with an extensive knowledge and experience in offshore engineering is in a position of advantage to capitalize in the development of this sector,” Nakauchi said.

The company has decided to consider construction of infrastructure and offshore development as “strategic targets” this year and “the engine of future growth”, he said.

Colombo Dockyard managing director Mangala Yapa said offshore oil exploration program along the north-west coast is another area the yard is looking at “with keen interest.” The yard, which is majority owned by Japan’s Onomichi Dockyard, will deliver four Multi Purpose Platform Supply Vessels and a passenger vessel for overseas customers during t