Kerala’s state-owned shipyard is among the world’s largest oil tankers and the biggest shipyard in India, with the bulk of its cargo shipped from Iran, which has a long and bloody history with Iran, to Malaysia.
The Kerala State Shipyard (KSSW), the largest shipyard on the coast of Kerala, which is based in the state, is currently undergoing a massive overhaul, after it lost its lease from its previous owner in July this year.KSSG’s stock price has dropped to a record low of Rs 12,000-15,000 ($1,800-7,400) per share on the Bombay Stock Exchange.
The stock was trading at Rs 10,800 on Wednesday.
KSSW has lost its previous lease, and is under the supervision of the Oil and Petrochemicals Authority of India (OPAI), which has been conducting a massive oil spill clean up operation in the last five years.KMSB and its subsidiaries, KSSG Ltd and KSSJ, have been awarded a contract worth Rs 5,000 crore to clean up oil spills in the Indian Ocean.KCSB and a consortium of companies from Iran have been given a contract of Rs 1,500 crore to tackle oil spills on a global scale.
The KSS shipyard has already spent Rs 20 crore to clear oil spills, and Rs 20 lakh to clean water sources on board a ship.
The tanker, which was being towed to a tanker terminal, sank in waters off the southern state of Kerala in May this year, killing 23 people.KBSE, which manages KSS, said that the shipyard had not received any orders for the clean-up work.
“This has been a huge loss to our company.
We will make arrangements to get the vessel repaired, the ship will be put back into service and we will take care of the passengers,” said Gopal Chaudhary, managing director, KBSE.
The company said that it has hired a team of experts from the Iranian oil ministry and was working with oil companies in India to conduct a clean-ups operation on the vessel.
The company has hired the experts from Iran to conduct the ship’s clean- up.
Kissimansi, an Iranian-owned tanker, sank on May 26, killing more than 100 people and causing a massive spill of oil in the Gulf of Oman.
The ship was transporting oil from Iran’s Qom oilfield to Kerala, and had been on its way to Malaysia when it sank.
The tanker, the largest tanker in the world, is one of the largest ships in the Persian Gulf, and has a capacity of about 700,000 barrels per day.
The ship’s oil tanker terminal was used to haul crude oil from the Qom field, which lies in the Strait of Hormuz, to the Gulf.
The wreck of the KSS boat, which sank in May, in waters near the southern city of Kissimansisi, Kerala.
The oil tanker, a Russian-built KSSB.
The spill, which spilled over 5.5 million barrels of oil, has cost the Kerala government Rs 5.1 crore and a total of Rs 16 crore to contain the spill.
The Ministry of Environment and Forests (MoEF) said that after the KBS ship sank, there were large quantities of oil floating on the water, which it was unable to stop.
The spill has forced the MoEF to start an oil spill monitoring system, which will provide the government with data on the spill and its impact on the environment.