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The Make In India initiative launched by the government in 2014 seems to be taking shape on the ground. Last month, state-owned Cochin Shipyard and Chennai-based Global United Shipping India proposed a joint bid under the build-operate-transfer model for six new liquefied natural gas (LNG) vessels for gas utility firm GAIL, making it the only Indian bid for the country’s biggest shipping tender.
This tender worth $7 billion has already received bids from two Japanese consortia, whose date for submission of offer was March 31, 2016. While Mitsui OSK Lines-Nippon Yusen Kabushiki Kaisha and Mitsui & Co Ltd form one consortium, the other comprises Mitsubishi Corporation-Kawasaki Kisen Kaisha and GasLog.
The LNG vessels with a cargo capacity of 150,000-180,000 cubic metres are meant to ferry gas cargo for GAIL from the US. An industry official close to the development claimed the terms attached to the bid by the Japanese consortia were “in sharp deviation from the conditions set by GAIL in its tender”, making it difficult for India’s largest gas trader to take a decision on the contract.
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