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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka boat building industry to enter European market

Sri Lanka boat building industry to enter European market

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Jun 25, 2012 (LBT) - The Export Development Board is making all out efforts to tap prospects in the lucrative European boat building industry, which was successful to bring in 149 Million U.S.Dollar revenue in 2011. The EDB has identified the Boat building industry as a key product sector which could contribute to raise the level of overall export performance in achieving the target of 15 billion U.S.Dollar export income by 2015.

Considering the importance of promoting the Boat building industry as a potential export sector and the investment opportunities and employment that it will create for the economic development of the country, the Ministry of Industry and Commerce and the EDB joined hands in organising ‘Sri Lanka Boat Show’ since 2008. EDB officials said that the centre for manufacturing boats is now moving towards developing countries mainly due to the competitive labour cost and the trainable workforce offered by these countries. Therefore, EDB organised its first ever National Pavilion for the boat building industry at Dubai International Boat Show, and UAE in 2011 with an objective of penetrating the lucrative leisure industry in the Gulf market.

Encouraged by the outcome of the first initiative, the EDB is taking another step forward to enter into the prestigious European market by organising Sri Lanka’s participation at “Southampton Boat Show” in UK from 14th to 23rd September this year. The Southampton Boat Show ,one of Europe’s premier on-water boat shows, is an important event in the boating calendar which attract over 120,000 high net worth individuals every year and features some of the world’s best known marine brands and high end non marine brands.

Whilst providing all exhibitors the best possible environment to show their goods and services, the Southampton Boat Show strives to offer boating enthusiasts the most complete picture of the marine market. Further, the show organisers will undertake a comprehensive multi channel marketing campaign, specifically targeting key visitor audiences. The European Union accounts to 36 % of the world boat imports and UK is the fifth largest importer in the EU region. UK has shown a remarkable increase of 103% in annual boat imports between the period 2009- 2011. The EDB officials said that in this context the United Kingdom presents an ideal venue for Sri Lanka to capture the European market for the boat building industry.

Rizmi

Rizmi
Manager - Equity Analytics
Manager - Equity Analytics
Colombo Dockyard flies Lankan flag at mega intl. ship repair and ship building expo in Greece

Sri Lanka’s pioneer shipbuilding and ship repairing facility, Colombo Dockyard PLC participated at one of the biggest International Shipping Exhibitions “Posidonia 2012” during June 4-8 in Athens, Greece.
This year the Exhibition was held at the all new state of the art Metropolitan Expo Centre, making the event more glamorous.
Colombo Dockyard has been a regular participant at the Posidonia platform over the past two decades flying the Sri Lankan flag and promoting Colombo as a competitive repair and building centre in the South Asian region. The Greek maritime community represents a huge market for shipyards around the world, with Greek Ship owners having the world’s biggest tonnage. This naturally makes them one of the biggest spenders on building, dry docking and maintenance.
This mega international marine exhibition has been a meeting place for global shipping fraternity stake holders such as: Shipyards, machinery and equipment suppliers, classification societies, flag states, shipbrokers to name a few.
This platform has been an effective mode for Colombo Dockyard to promote its facilities and products to the Greek and European markets. The positive developments in the country with peaceful environment conducive for business, has many European clients looking at Colombo seriously as a potential ship repair and building facility.
During this mega event, some of the factors highlighted to the potential clients were: Colombo’s strategic location close to the main marine trading routes, minimal diversion for vessel’s calling to discharge in the Indian coast, quality repair services, safe working environment, Japanese expertise available through our collaboration with Onomichi Dockyard, faster turnaround times and competitive rates. The shipbuilding sector highlighted the wide product portfolio on offer for the Offshore Vessels Sector, mainly our market proven Anchor Handling Tugs, Offshore Platform Support Vessels, Crew Boats and Passenger Ferries.
Colombo Dockyard teamed up with Chris Marine SA our representative in Greece to maximise the impact at this Exhibition.
Colombo Dockyard team was lead by Akihiko Nakauchi – Chairman, Darshana Chandrasekera-Head of Marketing (Ship Repairs) and Prince Lye – Head of Marketing (Ship Building). Christos Papatheodorou, Kimon Papatheodorou and Asterios Tampouris joined from the Chris Marine SA team.

http://www.ft.lk/2012/06/25/colombo-dockyard-flies-lankan-flag-at-mega-intl-ship-repair-and-ship-building-expo-in-greece/

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