Profits up at Sri Lanka yard

Colombo Dockyard, Sri Lanka’s sole listed ship builder, said its March quarter net profit went up 22.5% to 245 million rupees from 200 million rupees a year ago. Revenue rose 49.6% to 2,968 million rupees from 1,984 million rupees in the same period a year ago.

The yard delivered two anchor handling tug supply vessels earlier this year for Greatship (India), and is building two more AHTS vessels for Greatship which has also placed an order for two multipurpose construction / ROV support vessels with the yard. These new buildings are scheduled for delivery in September 2010 and January 2011.

Colombo Dockyard, a subsidiary of Japan’s Onomichi Dockyard Co., which provides management and technical expertise, is enjoying a full order book for new buildings on the back of the worldwide boom in shipbuilding. Its docks have also been kept occupied by plenty of repair work.