Dredging Corporation of India

Last updated

Dredging Corporation of India Limited
Type Public
Industry
Founded29 March 1976 (1976-03-29) [1]
Headquarters
Visakhapatnam
,
India
Key people
  • Capt. S. Divakar (Managing Director & CEO A/C)
[2]
ProductsMaintenance Dredging, Capital Dredging, Land Reclamation, Beach nourishment
RevenueDecrease2.svg₹7,438 million (US$93 million) [3]  (2014)
Increase2.svg₹624 million (US$7.8 million) [3]  (2014)
Number of employees
566 [3]  (2014)
Website dredge-india.com

Dredging Corporation of India Limited, or DCI, is an Indian dredging company [4] which does dredging for Indian seaports exclusively. It occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai. [5] [6] [7] It is mainly involved in maintenance dredging. Almost all the maintenance dredging in Indian seaports is carried out by DCI due to government regulations. [8] [9] DCI is also involved in capital dredging, beach nourishment, and land reclamation. [10] The main seaports in which DCI does business are Visakhapatnam Port, Haldia, Kandla, Cochin Port and Ennore Port.

Contents

DCI is headquartered at Visakhapatnam and has project offices at many seaports in India. It reports to the Ministry of Shipping. [11] It is ISO 14001:2004 and ISO 9001:2008 certified.

About

DCI was incorporated as a public sector organisation in March 1976. Companies Act 1956. [1] It was listed on CSE and DSE stock exchanges in October 1992 and debuted on BSE on 28 February 2000. [12] It went for an Initial public offering in March 2004. [13] DCI engaged IHC Dredgers BV, Netherlands for design, construction and delivery of 5500 cu. m TSHD in 2011. [14] It changed strategy to raise funds for purchasing additional dredgers by asking the seaports for investments. [15] The capital thus raised was used to replenish its old fleet. The Government of India reduced current stake in the company by 5 percent. [16] [17] The offer for sale of 5 percent stake was well received by the investors. [18] As part of its diversification plans DCI expresses interest to foray into international markets. [19] Ex-chairman and managing director, Abraham Kuruvilla finds mention in bringing widespread reforms in the corporate management techniques at DCI. [20] [21] [22] On 1 November 2017, the Government of India approved the privatization of Dredging Corporation of India [23] On 8 November 2018, the Government of India approved the stake of DCI to 4 Major Ports. DCI has been handed over to 4 major ports viz: Vishakhapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Kandla Port Trust. [24]

Financial Performance summary

The company has been through some rough weather with profits and revenues fluctuating wildly (see table below for detailed information). This is mainly due to its high dependency on Government funded projects and associated macro level economic fluctuations in the country. [3]

YearRevenue% ChangeProfit% Change
2015₹7,438 million (US$93 million)Decrease2.svg₹624 million (US$7.8 million)Increase2.svg
2014₹7,727 million (US$97 million)Increase2.svg₹375.5 million (US$4.7 million)Increase2.svg
2013₹6,380 million (US$80 million)Increase2.svg₹205.1 million (US$2.6 million)Increase2.svg
2012₹4,976 million (US$62 million)Decrease2.svg₹131.8 million (US$1.7 million)Decrease2.svg
2011₹5,227 million (US$65 million)Decrease2.svg₹395.1 million (US$4.9 million)Decrease2.svg
2010₹6,939.5 million (US$87 million)Decrease2.svg₹700.5 million (US$8.8 million)Increase2.svg
2009₹8,322 million (US$100 million)Increase2.svg₹463.7 million (US$5.8 million)Decrease2.svg
2008₹7,715 million (US$97 million)Increase2.svg₹1,548.2 million (US$19 million)Decrease2.svg
2007₹6,262 million (US$78 million)Increase2.svg₹1,887.3 million (US$24 million)Increase2.svg

Fleet

Dredger fleet consists mainly of Trailing Suction Hopper Dredgers (TSHD), Cutter Suction Dredgers (CSD) and Backhoe Dredgers. [25]

TSHD Class dredgers includes DCI Dredge VI, DCI Dredge VIII, DCI Dredge IX, DCI Dredge XI, DCI Dredge XII, DCI Dredge XIV, DCI Dredge XV, DCI Dredge XVI, DCI Dredge XVII, DCI Dredge XIX, DCI Dredge XX and DCI Dredge XXI. CSD category dredgers are DCI Dredge VII, DCI Dredge Aquarius, DCI Dredge XVIII and DCI ID Ganga. There is one Backhoe Dredger namely DCI Dredge BH1. There are multiple Survey Launches pressed into service viz. DCI Survey Launch I, DCI Survey Launch II, DCI Survey Launch III. The fleet also includes a multi-purpose craft DCI Multicat I and a special utility purpose craft named DCI Tug VII.

Projects

Related Research Articles

<span class="mw-page-title-main">Tata Steel</span> Indian multinational steel company

Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.

<span class="mw-page-title-main">Dredging</span> Excavation of sediment, usually under water

Dredging is the excavation of material from a water environment. Possible reasons for dredging include improving existing water features; reshaping land and water features to alter drainage, navigability, and commercial use; constructing dams, dikes, and other controls for streams and shorelines; and recovering valuable mineral deposits or marine life having commercial value. In all but a few situations the excavation is undertaken by a specialist floating plant, known as a dredger.

Kandla, now officially Deendayal Port Authority, is a seaport and town in Kutch district of Gujarat state in Western India, near the city of Gandhidham. Located on the Gulf of Kutch, it is one of India's major ports on the west coast. It is about 256 nautical miles southeast of the Port of Karachi in Pakistan and about 430 nautical miles north-northwest of the Port of Mumbai. Kandla Port was constructed in the 1950s as the chief seaport serving western India.

<span class="mw-page-title-main">Jack Lynch Tunnel</span> Crossing of the River Lee in Cork

The Jack Lynch Tunnel is an immersed tube tunnel and an integral part of the N40 road network in Cork, Ireland. It is named after former Taoiseach, Jack Lynch, a native of Cork.

<span class="mw-page-title-main">Sethusamudram Shipping Canal Project</span> Canal between India and Sri Lanka

Sethusamudram Shipping Canal Project is a proposed project to create a shipping route in the shallow straits between India and Sri Lanka. This would provide a continuously navigable sea route around the Indian Peninsula. The channel would be dredged in the Sethusamudram sea between Tamil Nadu and Sri Lanka, passing through the limestone shoals of Rama Sethu.

<span class="mw-page-title-main">Gandhidham</span> City in Gujarat, India

Gandhidham, initially known as Sardarganj, is the largest and most populous city in Kutch District, Gujarat, India. It was created in the early 1950s for the resettlement of Sindhi Hindu refugees from Sindh in the aftermath of the partition of India. It was named after Mahatma Gandhi, the father of the Indian nation. An economic capital of Kutch and a growing area for families and retirees, it is Gujarat's 8th most populous city. It is a popular destination for conventions, business, and meetings.

<span class="mw-page-title-main">Cochin Shipyard</span> Shipbuilding and maintenance facility in India

Cochin Shipyard Ltd (CSL) is the largest shipbuilding and maintenance facility in India. It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.

<span class="mw-page-title-main">Adani Group</span> Indian multinational conglomerate

Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani, in 1988 as a commodity trading business, with the flagship company Adani Enterprises. The Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure.

Tata Chemicals Limited is an Indian global company with interests in chemicals, crop protection and specialty chemistry products headquartered in Mumbai, India. The company is one of the largest chemical companies in India with operations in India, Europe, North America and Africa. Tata Chemicals is a subsidiary of Tata Group conglomerate. Tata Chemicals has a publicly listed subsidiary called Rallis India.

<span class="mw-page-title-main">Kilindini Harbour</span> Port in  Kenya

Kilindini Harbour is a large, natural deep-water inlet extending inland from Mombasa, Kenya. It is 25–30 fathoms (46–55 m) at its deepest center, although the controlling depth is the outer channel in the port approaches with a dredged depth of 17.5 m (57 ft). It serves as the harbour for Mombasa, with a hinterland extending to Uganda. Kilindini Harbour is the main part of the Port of Mombasa, the only international seaport in Kenya and the biggest port in east Africa. It is managed by the Kenya Ports Authority (KPA). Apart from cargo handling, Mombasa is frequented by cruise ships.

<span class="mw-page-title-main">Adani Ports & SEZ</span> Indian private sector port operator

Adani Ports and Special Economic Zone Limited formerly known as Mundra Port and Special Economic Zone Limited, is an Indian port operator. APSEZ represents a large network of ports with India's largest SEZ at Mundra. APSEZ is India's largest private port operator with presence across 12 locations.

<span class="mw-page-title-main">Oil and Natural Gas Corporation</span> Central Public Sector Undertaking

The Oil and Natural Gas Corporation (ONGC) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in Dehradun. ONGC was founded on 14 August 1956 by the Government of India. It is the largest government-owned-oil and gas explorer and producer in the country, and produces around 70% of India's crude oil and around 84% of its natural gas. In November 2010, the Government of India conferred the Maharatna status to ONGC.

<span class="mw-page-title-main">Bharat Petroleum</span> Indian central public sector undertaking

Bharat Petroleum Corporation Limited (BPCL) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It was ranked 309th on the 2020 Fortune list of the world's biggest public sector undertakings, and 792nd on Forbes's 2021 "Global 2000" list.

<span class="mw-page-title-main">Mercator (company)</span>

Mercator Limited is an Indian company. It was earlier known as Mercator Lines Ltd. The Mercator group of companies has diversified business interests in Coal, Oil & Gas, Commodity Transportation, and Dredging. Mercator Limited is the parent company and was the second largest private sector shipping company in India, and it is based in Mumbai. It was amongst the highest wealth creators in the Indian stock exchanges between 2000 -2010.

Future Group is an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited are two operating companies whose assets are among the top retail companies listed in BSE, with market capitalization among the highest on the National Stock Exchange of India.

Dredging, Environmental and Marine Engineering NV (DEME) is an international group of specialised companies in the field of capital and maintenance dredging, land reclamation, port infrastructure development, offshore related services for the oil & gas industry, offshore windfarm installation, environmental remediation a.o. The group is based in Zwijndrecht, Belgium, and has current operations on the five continents. The roots of the group date back to the mid 19th century. DEME is committed to the practice of sustainable development. In 2009, the Flemish government agency Flanders Investment and Trade awarded the Export Lion 2009 to DEME for what was called its 'sustainable strategy of internationalization' and 'the many prestigious assignments carried out worldwide'. In a survey by temporary employment company Randstad Holding of 12,001 Belgians in early 2010 DEME was proclaimed one of the most attractive employers in Belgium.

<span class="mw-page-title-main">Indian Oil Corporation</span> Central Public Sector Undertaking

Indian Oil Corporation Limited is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 142nd on the Fortune Global 500 list of the world's biggest corporations as of 2022. It is the largest government owned oil producer in the country, with a net profit of $6.1 billion for the financial year 2020-21. As of 31 March 2021, Indian Oil's employee strength is 31,648, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women, comprising 8.77% of the total workforce.

ICICI Prudential Life Insurance Company Limited is a life insurance company in India. Established as joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.

<span class="mw-page-title-main">J. & K. Smit</span>

J. & K. Smit was a Dutch shipbuilding company located in Kinderdijk and Krimpen aan de Lek. Its successor is now part of Royal IHC.

<span class="mw-page-title-main">Royal IHC</span>

Royal IHC or Koninklijke IHC, previously IHC Holland (1943–1995), IHC Holland Merwede (1995–2005) and IHC Merwede (2005–2014) is a Dutch shipbuilding company with headquarters in Kinderdijk. It focuses on the development, design and construction of ships for the dredging and offshore industries.

References

  1. 1 2 "Company Profile – History". Moneycontrol.com . Retrieved 6 January 2016.
  2. ↑ "Board of Directors". Dredging Corporation of India. Archived from the original on 4 March 2016. Retrieved 6 January 2016.
  3. 1 2 3 4 "39th Annual Report 2014–15" (PDF). Dredging Corporation of India. Retrieved 6 January 2016.
  4. ↑ Sridharan, K (1982). A Maritime History of India. Publications Division, Ministry of Information and Broadcasting, Government of India. p. 393.
  5. ↑ "Company Profile". Reuters. Archived from the original on 5 February 2016. Retrieved 6 January 2016.
  6. ↑ "Company Profile". HDFC securities . Retrieved 6 January 2016.
  7. 1 2 "Govt. turns to India for KKS Port project loan". The Daily Mirror . 4 April 2013.
  8. ↑ Manoj, P (5 September 2013). "Dredging is a perennial problem area for India's ports". Mint .
  9. ↑ Mehta, Pradeep S., ed. (2006). A functional competition policy for India. New Delhi: Academic Foundation in association with CUTS International, Jaipur. p. 240. ISBN   8171884938.
  10. 1 2 Patnaik, Santosh. "Beach nourishment drive yields result". The hindu .
  11. ↑ Ghosh, S.N. (1998). Tidal hydraulic engineering. Rotterdam [u.a.]: Balkema. p. 137. ISBN   9054107359.
  12. ↑ "Corporate Info Listing on BSE". Bombay Stock Exchange . Retrieved 6 January 2016.
  13. ↑ "DCIL IPO Listing details". cmlinks.com. Retrieved 6 January 2016.
  14. ↑ "Dredging Corporation of India signs a contract with IHC Dredgers BV, Netherlands". IndiaInfonline. 13 February 2014.
  15. ↑ "Dredging Corporation in talks with ports to raise funds for dredgers". Business Line . 8 March 2013.
  16. ↑ Paladhi, Arijit (14 January 2015). "Dredging Corp to yield little through divestment". Business Standard .
  17. ↑ "Government plans to sell 5 per cent stake in Dredging Corporation of India Ltd". The Economic Times . 23 January 2015.
  18. ↑ Dhanjan, Swaraj Singh (21 August 2015). "Dredging Corp. offer for sale subscribed 2.65 times". Mint .
  19. ↑ Manoj, P (1 April 2015). "Dredging Corp. eyes inland waterways, foreign markets". Mint .
  20. ↑ Posner, Barry Z.; Kouzes, James M.; DeKrey, Steven J. (2013). Making extraordinary things happen in asia applying the five practices of exemplary leadership. San Francisco, Calif.: Jossey-Bass. p. 49. ISBN   978-1118518540.
  21. ↑ Dam, Congress organized by EADA on behalf of the World Organization of Dredging Associations WODA ... co-sponsored by IADC, International Association of Dredging Companies ... [] ; editor, V.L. van (1992). Dredging for development : proceedings of the XIIIth World Dredging Congress 1992, Bombay, India, 7–10 April 1992. Delft: WODA. p. ii. ISBN   818502720X.{{cite book}}: |first1= has generic name (help)
  22. ↑ The Leadership Challenge (4th ed.). New York: Wiley. 2010. p. 22. ISBN   978-0470947593.
  23. ↑ "PSU Disinvestment: Government approves entire 73% stake sale in Dredging Corp of India".
  24. ↑ "Cabinet Clears Strategic Sale of Government Equity in Dredging Corporation of India".
  25. ↑ "Corporate Presentation" (PDF). Dredging Corporation of India. 16 August 2015.
  26. ↑ "Dredging Corp. seeks arbitration to recover dues from Sethusamudram Project". Mint . 19 February 2013.
  27. ↑ General Knowledge Manual (2007 ed.). Tata McGraw-Hill. p. 180.
  28. ↑ Ghosh, G. K. (2002). Water of India : quality and quantity. New Delhi: A.P.H. Publ. Co. p. 76. ISBN   8176482943.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.