Kochi, June 2 : Cochin Shipyard Ltd (CSL) today launched five Platform Supply Vessels (PSVs) in Kochi.

The event is significant for CSL, as it is the only shipyard in India which has launched five PSVs simultaneously.

Vice Admiral S. K. Damle, Flag Officer Commanding in Chief, Southern Naval Command, launched the five vessels by flooding the dock with the press of a button.

"I take this opportunity for the five ships which have been launched today, to have a long and successful life and tenure and service for their proud owner. I have come to understand the shipyard had already delivered six vessels of this kind and almost 20 that are already on order are therefore going to be built soon," said Vice Admiral Damle.

The supply vessels meant to be delivered to the United States (US), Norway and Greece have been christened as Sea Turbot build for Deep Sea Supply, Hellspont Daring and Hellspont Dawn for Hellspont Steam Ship, Oliver Tide and Davidson Tide for Tide Water Marine.

The vessels will fulfill specific demands of transport of deck cargo, pipes, liquid cargo, cement / barite etc and unload to rigs, production platforms and pipe-laying barges etc.

They are regarded as work shore of offshore oil field industry, which acts as a lifeline carrying all operational supplies and stores to far off offshore installation.

These ships have been designed by making use of Rolls Royce ship technology and will be delivered during August and December.

Commodore M. Jitendran, Chairman and Managing Director, Cochin Shipyard Ltd said that the yard has been breaking records in the last five years and in future the yard expects to surpass its previous records.

"The improvement in physical terms is certainly reflected in the finances. The net profit of the company went up by 300 per cent last year when we achieved 58 crore (580 million rupees) as compared to the previous 18 crore (180 million rupees) and the financial performance in 2007-08 financial year is expected to surpass this handsomely," said Jitendran.

Presently, the shipyard has got orders for 20 PSVs from foreign owners valued at 20 billion rupees.

The Cochin Shipyard Limited has also commenced construction of Air Craft Carrier for Indian Navy.

Speaking on the occasion, Vice Admiral Damle said though the work for the indigenous Aircraft Carrier is satisfying, it was little late of schedule.

The construction of the 40 billion rupees (Rs 4,000-crore) war ship will be another milestone for the country's indigenous warship building capabilities, as this will be the largest as well as the most complex warship to be ever built in India.(ANI)