Singapore-based shipmanager Synergy Marine Group has signed a memorandum of understanding with India’s state-controlled Cochin Shipyard to explore shipbuilding, repair and conversion opportunities, Splash 247 reported. Signed in Kochi, the agreement adds Synergy to the yard’s growing roster of international partners and covers both marine work and oil and gas projects.
The companies intend to develop business together in newbuildings, ship repairs, conversions and module fabrication. Synergy will also offer technical and strategic assistance for selected Cochin newbuilding programmes, extending from planning through execution to quality assurance. However, Splash 247 noted that the memorandum identifies no firm projects, contract values or fixed investment commitment. It therefore sets out areas for co-operation rather than a confirmed programme of orders.
Synergy’s contribution will draw on its work on behalf of shipowners, including owner representation, engineering and project management, as well as technical management after vessels begin operating. The group manages more than 750 ships, spanning bulk carriers, container vessels, tankers and gas carriers. According to figures cited by Splash 247, Synergy says it has supported more than 250 newbuilding projects and currently holds assignments involving over 150 vessels at 20 shipyards across six countries.
The tie-up comes alongside other partnerships being developed by Cochin in ship construction, repair and offshore services. Earlier in September, the yard formalised a joint venture owned equally with DP World’s Drydocks World to run and expand the International Ship Repair Facility on Willingdon Island. Splash 247 reported that the facility is being transferred to the venture at a valuation of at least INR18bn ($189m), with Drydocks World assuming the leading management role.
Cochin’s other international relationships include an arrangement with Singapore’s Seatrium to pursue offshore maintenance, repair and overhaul business in India and elsewhere in Asia. Maersk also has an agreement with the Indian shipyard covering prospective shipbuilding and repair activity. The Synergy memorandum broadens that partnership network, while leaving specific projects and financial commitments undefined.