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Colombo Dockyard
Colombo Dockyard
Colombo Dockyard
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Colombo Dockyard PLC (CDPLC) is a ship building company in Sri Lanka and it is based in Colombo. It has built both military and civilian vessels for both local and overseas clients.

Key Information

History

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Colombo Dockyard, established its operations in 1974 and is one of Sri Lanka's engineering facilities in the business of ship repair, ship building, heavy engineering and offshore engineering. It is situated within the Port of Colombo, thus having the benefits of a deep water harbor.[2]

In November 2024, the financial crisis of Colombo Dockyard PLC was announced. This was followed by the resignation of its two Japanese directors on 6 December while the Sri Lankan directors remained. The company, with assistance from the Government of Sri Lanka, then sought a strategic investor to purchase the 51% stake from from Japan's Onomichi Dockyard Co. Ltd. and also support a rights issue to raise $30 million following an open process through the Sri Lankan embassies. Around 40 expressions of interest (EoIs) were received in response from which five were eventually shortlisted.[3]

As of April 2025, Indian state-owned Mazagon Dock Shipbuilders is negotiating to acquire a majority stake of Colombo Dockyard PLC (CDPLC). MDL will reportedly purchase the 51% stake from Japan's Onomichi Dockyard after the continuous losses from CDPLC. A Memorandum of Understanding (MoU) was expected by the end of the month.[4]

The Mazagon Dock Shipbuilders, in its regulatory filing on 27 June 2025, announced its decision of acquisition of a controlling (51%) stake in Sri Lankan peer Colombo Dockyard in a deal worth up to ₹450 crore (US$52.96 million) in order to grow its shipbuilding and repair business. The transaction will be completed within six months following which the Sri Lankan shipbuilder will become a part of Mazagon Dock Shipbuilders.[5] At the end of November 2024, Japan’s Onomichi Dockyard exited its majority stake in Colombo Dockyard. Following this, Colombo reportedly sought New Delhi’s assistance in encouraging Indian investment to avoid default. Mazagon Dock Shipbuilders Ltd was subsequently shortlisted due to its shipbuilding experience and financial capability.[6][7]

Facilities and operation

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Greatship Anjali built by Colombo Dockyard
Lakshadweep built by Colombo Dockyard

Colombo Dockyard operates four graving drydocks, the largest one with a capacity of 125,000 tonnes deadweight (DWT) as well as repair berth facilities. It is accredited with the ISO 9001-2015 quality certification by Lloyd's Register Quality Assurance.[8]

Colombo Dockyard has operated in joint collaboration with Onomichi Dockyard Japan since 1993- the collaboration's twenty-year anniversary was celebrated on March 26, 2013.[9]

In 2020 the Colombo Dockyard built Eco bulk carriers for Norwegian Misje Eco Bulk company, Misje subsidiary of Kåre Misje & Co.[10] Colombo Dockyard also built Buoy Tender Vessels to sell to ports of Iraq through Toyota Tsusho Corporation of Japan. Japan International Cooperation Agency (JICA) helped with this project.[11]

Known ship classes built

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The following ships were known to be made by CD:[12]

  • Jayasagara-class patrol craft[13]
  • Fisheries Protection Vessel
  • Colombo class[14]
  • Coastal surveillance vessel
  • Fire fighting vessel
  • 29 M Landing Craft
  • Fast Landing Craft
  • 35&40 Meter Fisheries Protection Vessel
  • 65 Ton Bollard Pull Tug
  • Anchor Handling Tug Supply Vessel (80 Ton Bollard Pull)
  • Passenger Vessels (250 Passengers)
  • Passenger Vessels (400 Passengers)
  • Multipurpose Platform Supply Vessel
  • Fast Patrol Vessel
  • Anchor Handling Tug Supply Vessel (130 Ton Bollard Pull)
  • VARD 9-01 111.3m Undersea Cable Laying Vessel[15]
  • VARD 7 85m OPV[16]

Customers

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Military clients

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International clients

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Colombo Dockyard

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Colombo Dockyard PLC (CDPLC) is Sri Lanka's largest facility specializing in ship repair, , heavy , and offshore , established in 1974 and headquartered at the . The company operates four dry docks capable of handling vessels up to 125,000 deadweight tons (DWT) and services over 200 ships annually across more than 25 countries, including rapid response afloat repairs and construction of specialized vessels such as cable-laying ships, hybrid eco bulk carriers, and offshore supply vessels. Initially developed with Japanese technical collaboration from Dockyard Co., Ltd., which held a significant stake until its planned exit by December 2024, CDPLC has expanded from basic repairs to complex international projects, achieving milestones such as delivering multiple vessels in a single day and repairing some of the longest vessels to dock there. In 2023, it became an afloat repair provider for Japan's Maritime Self-Defense Force, underscoring its growing reputation in defense-related services. The firm maintains ISO certifications for quality, environment, safety, and energy management, emphasizing operational efficiency amid global shipping demands. Recent strategic shifts include seeking a USD 30 million capital infusion from investors to bolster capacity, with 2025 reports indicating a potential 51% stake acquisition by India's state-owned Limited, linked to New Delhi's defense ministry—a move sparking controversy over and foreign control of critical maritime infrastructure. Despite financial challenges, including net losses in 2024, revenue from exports constitutes 87% of its total, primarily from ship repair (56% of revenue) and (35%), positioning it for niche market growth like eco-friendly vessels and expansions at Port.

History

Establishment and Early Development (1970s–1980s)

Colombo Dockyard was established on August 1, 1974, as a state-owned entity with the primary objective of providing ship repair facilities to meet local industry demands, utilizing existing dry docks in Colombo Port. Initially operating as a modest repair workshop, it leveraged Dry Docks 1, 2, and 3 to service vessels from the Ceylon Shipping Corporation's fleet and international callers, including Greek trampers, Indian ships, Pakistani vessels, and Russian research ships and tugs. Shipbuilding operations began concurrently in 1974, focusing on small-scale vessels such as tug boats, patrol boats, and barges, which addressed immediate needs for local maritime entities. During the late , the yard constructed patrol boats measuring 14 meters and 20 meters in length, along with work boats including towing tugs, barges, and launches, primarily for the and Ports Authority. These efforts established an early reputation for handling complex repairs and basic constructions under resource constraints. In August 1975, Colombo Dockyard was restructured into a , with the Ceylon Shipping Corporation acquiring a 75% stake to enhance operational efficiency and align with national shipping interests. The 1980s saw initial consolidation, culminating in the construction of No. 4 in the late decade, a 125,000 deadweight facility capable of accommodating Aframax-sized vessels, which expanded repair capacities for larger ships. This development marked a transition from rudimentary operations to more robust infrastructure supporting both domestic and foreign maritime traffic.

Expansion into Military and Commercial Shipbuilding (1990s–2000s)

In the 1990s, Colombo Dockyard underwent significant restructuring following its in , when the Sri Lankan government divested a 51% stake to Japan's Dockyard Co. Ltd., introducing advanced technical expertise and management practices that facilitated expansion beyond basic repairs into more sophisticated . This partnership enabled the yard to enhance its capabilities in constructing both and commercial vessels, shifting from primarily small-scale local projects to competing in regional markets with improved quality standards compliant with international classification societies. The infusion of Japanese supported the development of specialized and fabrication techniques, allowing for the production of larger, more durable hulls suitable for offshore operations. On the military front, the yard expanded its role as a key supplier to the amid escalating internal security needs during the civil conflict. It acquired boat-building technology, enabling the construction of high-speed and attack craft designed for coastal and anti-smuggling duties. By the early , this culminated in the production of advanced Colombo-class ultra-fast attack craft, including Mk IV variants commissioned around 2005, which featured speeds exceeding 45 knots and were optimized for rapid response against asymmetric threats. These vessels, built to Israeli-inspired Dvora designs with local adaptations, numbered in the dozens and represented a maturation of in-house design and assembly processes, reducing reliance on foreign imports while meeting naval specifications for armament integration and endurance. Commercially, the period marked a diversification into export-oriented projects, with the yard delivering high-powered tugs, barges, and offshore support vessels to regional clients, including Indian operators. Notable examples include platform supply vessels such as the Greatship Anjali (IMO 9408425), a 1,800-tonne tug/supply hybrid delivered in , capable of supporting operations with and heavy-lift capacity. Passenger-cargo ferries for nations, including multiple 250-tonne vessels for Maldivian government services, were also constructed, emphasizing shallow-draft designs for inter-atoll transport. This growth was driven by competitive pricing and proximity to routes, with annual output increasing to include vessels up to 2,000 tonnes deadweight, though challenges like imports and skilled labor shortages occasionally constrained scalability. By the late , commercial accounted for a growing share, complementing contracts and establishing the yard's reputation for cost-effective, customized builds.

Privatization and Japanese Partnership (2010s)

In the 2010s, Colombo Dockyard PLC operated under the privatized structure established in 1993, with Japan's Onomichi Dockyard Co. Ltd. maintaining a 51% majority stake, enabling sustained technology transfer, management expertise, and quality improvements in ship repair and building. This ongoing Japanese partnership emphasized rigorous engineering standards, contributing to operational resilience amid global shipping fluctuations; for example, the company's 2010 annual report noted a 12.36% increase in share price from the prior year, reflecting investor confidence in the joint venture model. The decade marked key milestones in the collaboration, including the 2013 celebration of its 20th anniversary, which underscored the fusion of Japanese precision with Sri Lankan labor and to enhance competitiveness in international markets. Under this framework, Colombo Dockyard expanded its portfolio, securing contracts such as the 2018 order for two harbor work ships destined for , built to meet specialized and requirements through imported Japanese design inputs and local assembly. Financial performance during the period showed steady revenue from diversified services, with the 2013 highlighting growth in engineering collaborations that integrated Japanese systems, leading to certifications like ISO standards and improved turnaround times for vessel repairs. The also supported programs, fostering skills in advanced and hull fabrication, which helped the dockyard handle larger commercial and offshore vessels amid rising volumes.

Recent Ownership Transitions and Challenges (2020s)

In the early , Colombo Dockyard PLC encountered severe financial difficulties exacerbated by Sri Lanka's broader economic crisis, including high , shortages, and import restrictions that increased operational costs and delayed material . The company reported a net loss of LKR 11.1 billion (approximately $38 million) in 2023, attributed to underpriced contracts entered before global disruptions and raw material price surges, alongside reduced revenues from fewer repair orders amid regional port congestion. By 2024, revenues had declined by about one-third year-over-year, prompting the to place the company's shares on its watch list effective June 10, 2024, due to audit concerns over going-concern risks. These persistent losses led Japan's Dockyard, which held a 51% controlling stake since acquiring it in the , to initiate proceedings in late 2024 as part of efforts to stem further capital erosion. On June 28, 2025, India's state-owned Limited (MDL), under the , approved the acquisition of this 51% stake for $52.96 million (approximately Rs 452 crore), marking a shift from Japanese to Indian majority ownership and aiming to leverage MDL's expertise in naval for operational turnaround. The transaction, structured to close within six months subject to regulatory and shareholder approvals, included plans for Colombo Dockyard to conduct a of 323 million shares at LKR 40 each to recapitalize and facilitate the deal, though execution faced delays amid shareholder consultations. The ownership transition drew scrutiny over Sri Lanka's divestment of strategic assets during fiscal recovery, with critics citing inadequate valuation transparency and potential implications from foreign control of a key maritime facility. Despite these challenges, Colombo Dockyard's management expressed optimism for stabilization through the MDL partnership, which could enhance access to Indian markets and technology transfers, though integration risks persisted given ongoing debt burdens and competitive pressures in the ship repair sector. By October 2025, the company confirmed progression with the following shareholder endorsements, signaling tentative steps toward resolving liquidity constraints.

Facilities and Infrastructure

Dry Docks and Shipbuilding Yards

Colombo Dockyard operates four graving dry docks, enabling comprehensive ship repair and construction activities. The largest, Dry Dock No. 4, measures 263 meters in length, 44 meters in breadth, and 8.9 meters in depth, accommodating vessels up to 125,000 deadweight tons (DWT), such as Aframax tankers and bulk carriers; it is equipped with 50-ton cranes, two 450 kg traveling dock arms, and a vehicle access tunnel for efficient operations. Dry Dock No. 1A, with dimensions of 148 meters by 26 meters by 9.7 meters and a 30,000 DWT capacity, supports repairs on general cargo, feeder container, and dredger vessels using a 160-ton crane.
Dry DockLength (m)Breadth (m)Depth (m)Capacity (DWT)Key Equipment/Features
No. 1A148269.730,000160 t crane; repairs for and vessels
No. 1B (Shipbuilding)62269.7160 t crane; unit assembly
No. 2 (Shipbuilding)10718.5–21.56.79,00050 t and 15 t cranes; sheltered with moving sheds
No. 3122165.58,00020 t cranes; for tugs, naval vessels, and work boats
No. 4263448.9125,00050 t cranes, dock arms, access tunnel; for large tankers and bulkers
Shipbuilding yards are integrated with Dry Docks No. 1B and No. 2, the latter being a sheltered facility exclusively for new construction, supporting assembly of smaller vessels like crew boats, passenger ferries, and offshore support craft up to 9,000 DWT. Supporting infrastructure includes 1,200 meters of quays, diverse cranage (up to 160 tons), and steel workshops equipped for cutting, forming, and welding, enabling fabrication for vessels ranging from tugs to bulk carriers. Recent expansions, including a 2,575 square meter addition to shipbuilding areas and a new deck barge, have enhanced capacity for complex assemblies as of 2024.

Engineering Workshops and Support Systems

The engineering workshops at Colombo Dockyard PLC encompass specialized facilities for ship repair, , and heavy fabrication, totaling over 30,000 across various categories. These include dedicated areas for ship repairs (9,400 ), (10,680 ), weather-protected production (7,000 ), Performance Standard for Protective Coatings (PSPC) compliance (580 ), and support services (2,660 ). The workshops support heavy and aluminum fabrication, with an annual processing capacity exceeding 7,000 tons of , enabling comprehensive hull repairs, pipe renewals, and overhauls. Key equipment includes overhead and swing arm cranes for , advanced systems such as submerged arc, MIG/TIG/MAG processes, profile cutting machines, plate rollers, hydraulic presses, pipe benders, and cutters, all integrated for precision fabrication and forming. The workshop features state-of-the-art technologies for cutting, , and , ensuring compliance with international society standards. Specialized cryogenic workshops handle carrier repairs, while PSPC facilities maintain controlled environments for and to meet stringent performance requirements. Hot dip galvanizing capabilities further enhance corrosion resistance in fabricated components. Support systems provide essential ancillary services, including supplies of oxygen, , and , alongside powerful illumination for operational efficiency across piers and workshops. Diving services, automation and electronic repairs, and lifeboat maintenance complement core fabrication, enabling afloat repairs and rapid response for machinery overhauls on vessels up to 125,000 DWT. In August 2024, Colombo Dockyard laid the foundation for a new full-fledged workshop at through its subsidiary Dockyard General Engineering Services (DGES), aimed at enhancing regional service capacity and turnaround times for heavy tasks. This expansion builds on existing to support growing demands in ship repair and offshore .

Recent Expansions and Upgrades

In 2024, Colombo Dockyard PLC invested Rs. 451 million in capital expenditures aimed at enhancing yard productivity and infrastructure development, including Rs. 382.4 million specifically allocated to yard facilities. This funding supported ongoing improvements to operational efficiency and capacity for ship repair and building activities. A significant expansion project initiated in July 2024 involved signing an agreement with Group to establish a full-fledged workshop at , with construction costs estimated at US$1 million. The was laid on August 16, 2024, marking the start of a state-of-the-art facility designed to extend afloat repair services to southern and bolster regional maritime support capabilities. Upon completion, the workshop will provide comprehensive services, including maintenance for vessels unable to enter dry docks, thereby increasing the yard's geographic reach and handling versatility. Facility upgrades in 2024 also included the completion of a three-storey building for hull employees, featuring for 72 trainees and a dining area accommodating 80 personnel, to improve amenities and . Equipment acquisitions during the year encompassed two telescopic boom trucks from , a plate shearing machine from , two trucks (5T and 3T capacities) from , a 1.5T from , and an ordered hydraulic press brake machine (12mm capacity) from , slated for delivery in April 2025. These procurements targeted enhancements in , fabrication, and heavy engineering processes. Asset management upgrades featured a of dry docks and dockside cranes as of December 31, 2024, by Priyantha Withanarachchi Associates (Pvt) Ltd, yielding a net gain of Rs. 7,173 million and elevating property, plant, and equipment values by 55%. Concurrently, the useful lives of dry docks were revised to 40 years and cranes to 10-25 years effective August 1, 2024, influencing calculations while reflecting extended operational viability. Planning advanced for further infrastructure enhancements, such as the Guide 2 extension with crane track modifications and potential acquisition of South to augment drydocking capacity. In June 2025, Mazagon Dock Shipbuilders Limited of India agreed to acquire a 51% controlling stake in Colombo Dockyard for US$52.96 million through primary infusion and secondary share purchase, facilitating joint investments in infrastructure upgrades and operational efficiencies. This strategic collaboration, formalized in July 2025, aims to leverage Indian technical expertise for revitalizing facilities, including integration with the Hambantota workshop, amid Colombo Dockyard's debt challenges and prior Japanese ownership transition. The partnership positions the yard for expanded capabilities in ship repair and building, particularly in niche markets like cable-laying and offshore vessels.

Operations and Capabilities

Ship Repair and Maintenance Services

Colombo Dockyard provides comprehensive ship repair and maintenance services, utilizing four graving drydocks with a maximum capacity of 125,000 deadweight tons (DWT) to accommodate vessels ranging from general cargo carriers to very large gas carriers (VLGCs) and tankers. The facility handles over 200 vessels annually, with approximately 100 undergoing drydocking and the remainder serviced at dedicated repair berths spanning 1,000 meters. These services encompass routine drydocking, major layup overhauls, collision and damage repairs, conversions, and afloat maintenance, supported by in-house capabilities for steel fabrication, piping, electrical systems, and specialized tasks like cryogenic repairs. The drydocks include Dock No. 1A (148 meters long, 30,000 DWT capacity), Dock No. 4 (263 meters long, 125,000 DWT capacity), and smaller docks for targeted repairs, equipped with cranes up to 160 tons and workshops for blasting, , jetting, and machinery overhauls. Afloat repairs extend operational flexibility, allowing interventions without drydocking, such as propeller polishing, hull cleaning, and minor structural fixes, which minimize downtime for vessels transiting the routes. Maintenance protocols adhere to international standards, including ballast treatment system (BWTS) retrofits and testing, ensuring compliance with regulations like those from the . Notable projects demonstrate these capabilities; in October 2023, the yard completed drydock repairs on the VLGC Surya Veerya (226 meters LOA, 45,811 gross tons), including BWTS installation, safety valve overhauls at the cryogenic workshop, eddy current tests on heat exchangers, and routine maintenance, finishing ahead of schedule. In July 2024, routine drydocking of two of the longest vessels serviced at the yard involved extensive hatch cover repairs alongside standard maintenance. More recently, in January 2025, emergency repairs were executed on a Singapore-flagged vessel damaged in a Gulf of Aden incident, addressing structural hull damage, cargo hold and fuel tank repairs, and provisional crane refitting. These operations highlight the yard's efficiency in handling diverse, time-sensitive workloads across commercial and specialized fleets.

Shipbuilding Processes and Technologies

Colombo Dockyard PLC employs a comprehensive process that begins with advanced using software such as Ship Constructor and CADMATIC to facilitate precise design and planning compliant with international societies' standards. fabrication follows, utilizing computer (CNC) for plates up to 55 mm thick and CNC flame cutting for up to 75 mm, enabling efficient production of hull components and structural elements. Forming processes incorporate rolling machines capable of handling widths up to 4,000 mm and thicknesses up to 50 mm, alongside pressing equipment, all supported by cranes with lifting capacities reaching 160 tons for . Welding operations occur in dedicated steel unit fabrication areas equipped with motorized movable sheds, employing (SMAW), (FCAW), and (GTAW) to join components with high integrity. Surface preparation involves blasting and painting chambers to ensure resistance, while pipe fabrication and machine shops handle in-house production of systems, electrical installations, and mechanical assemblies using lathes, milling machines, and presses. Assembly takes place across the yard's facilities, including the Yard for supplementary steel and pipe processing, culminating in outfitting with propulsion systems such as hybrid-electric drives featuring battery systems for reduced emissions. Technological advancements include integration of dynamic positioning systems for specialized vessels and ongoing modernization through strategic partnerships, such as the July 2025 collaboration with India's Mazagon Dock Shipbuilders Limited to adopt proven shipbuilding processes and enhance facility capabilities. The yard maintains Sri Lanka's largest collection of heavy steel processing and welding machinery, supporting construction of diverse vessels from aluminum-hulled high-speed boats to cable-laying ships with capacities for complex, eco-friendly designs. These in-house processes enable end-to-end customization, from small tugs initiated in 1974 to larger commercial and offshore support vessels, minimizing reliance on external suppliers for core fabrication.

Workforce and Quality Standards

Colombo Dockyard PLC employs over 3,000 personnel, forming a skilled industrial that constitutes the company's primary operational strength. This includes welders, engineers, technicians, and support staff, many of whom have received overseas training, particularly at the parent company's facilities in , , to enhance technical competencies in and repair. The company operates a dedicated Training Centre under its Department of Human Resource Development, registered with Sri Lanka's Tertiary and Vocational Education Commission (TVEC) under the Tertiary and Vocational Education Act No. 20 of 1990. This facility delivers industrial, technical, and managerial programs, including seminars, workshops, and skills development initiatives tailored for employees at all levels, from welders to senior managers. Programs emphasize continuous learning, utilizing in-house experts and external trainers to align individual skills with corporate objectives in maritime engineering. Recent collaborations, such as with India's Mazagon Dock Shipbuilders Limited in 2025, further support employee skill enhancement through specialized exchanges. Quality standards at Colombo Dockyard are integrated into its corporate operations, with the entire facility certified to ISO 9001:2015 for systems by since 2017, building on initial certification to ISO 9001:1994 in 1999 and subsequent upgrades in 2002, 2010, and beyond. Additional certifications include ISO 14001:2015 for environmental management (achieved as the first in in 2016), ISO :2018 for occupational health and safety, and ISO :2018 for energy management, all verified through annual external audits by . These standards are enforced via a comprehensive , procedure manuals, work instructions, and internal audits by qualified personnel, ensuring compliance in ship repair, building, and heavy engineering processes.

Notable Vessels and Achievements

Military Vessels Built and Repaired

Colombo Dockyard commenced shipbuilding in with the construction of its first offshore patrol vessel for the , marking the inception of modern warship production in . The yard produced the Jayasagara-class offshore patrol vessels, comprising two ships: SLNS Jayasagara (P601) and SLNS Sagarawardena (P602). Both were built at Colombo Dockyard, launched and commissioned on December 9, 1983, with displacements around 500 tons and capabilities for extended patrols in Sri Lankan waters. These vessels represented the first warships constructed domestically in contemporary Sri Lankan history, designed for coastal defense and anti-smuggling operations amid the escalating . SLNS Jayasagara served until decommissioning on September 30, 2021, after which it transferred to the Sri Lanka Coast Guard. Subsequent builds included smaller inshore patrol craft and speedboats for the Sri Lanka Navy, such as Arrow-class fast attack craft, enhancing littoral capabilities with agile, armed platforms for rapid response. These efforts totaled dozens of military patrol vessels, leveraging the yard's expertise in fabricating hulls, propulsion systems, and weapon integrations suited to regional threats. In ship repairs, Colombo Dockyard has serviced Sri Lanka Navy vessels routinely since the 1980s, including maintenance in its drydocks for frigates, gunboats, and patrol craft to sustain operational readiness. A milestone occurred in 2023 when the yard conducted the Japan Maritime Self-Defense Force's (JMSDF) inaugural afloat repairs abroad on the Akizuki-class destroyer JS Samidare, performing maintenance from July 21 to 25 at Colombo Port without drydocking. This collaboration, facilitated by Japanese partner Onomichi Dockyard, validated the facility's precision engineering for advanced naval assets, prompting JMSDF considerations for recurrent use in the Indian Ocean.

Commercial and Specialized Vessels

Colombo Dockyard PLC has established itself as a builder of commercial bulk carriers, particularly through a series of eco-friendly hybrid vessels for Norwegian owner Misje Eco Bulk AS. These 5,000 dwt carriers, measuring 89.95 meters in length overall with a beam of 16 meters and draught of 6.55 meters, are designed for versatile cargo including bulk, grain, timber, and containers, incorporating hybrid propulsion to reduce emissions compared to conventional designs. The contract, initially for up to ten vessels with detailed engineering by the yard's in-house team and classed by DNV, has seen progressive deliveries starting from 2022; notable examples include Misje Vita (launched May 2022), Misje Verde (delivered 2023), and Misje Lily (eighth vessel, delivered August 2025). In specialized vessel construction, the yard has delivered cable laying and repair ships equipped for subsea fiber optic and operations. The 5,757 dwt Cable Infinity, built for Japan's Kokusai Cable Ship Co. Ltd. (KCS) and delivered in June 2019, features two main cable tanks, two spare tanks, and a dedicated laying deck with drum handling capabilities. Similarly, , delivered to France's Orange Marine in August 2023, includes three cable tanks (one with a system) and accommodations for up to 76 personnel, marking the yard's first such vessel to the European market. The yard has also constructed passenger ferries for regional operators, emphasizing shallow-draft designs for coastal routes. For India's of Administration, it laid the in April (year unspecified in sources) for the first of two 1,200 dwt ferries accommodating 400 passengers each, valued at $29.3 million per vessel. Domestically, the 40-passenger Elutharakai was delivered to Sri Lanka's Secretariat in August 2017, optimized for low-depth operations. Additional commercial output includes tugs, barges, and high-speed aluminum-hulled boats since 1974, serving local and international clients under classification society standards.

Key Milestones and Innovations

Colombo Dockyard PLC was established on August 1, 1974, as Sri Lanka's pioneering integrated facility for ship repair and , initially operating a floating dock to service vessels up to 20,000 DWT. In 2008–2009, despite the global , its ship repair operations achieved record revenue, handling over 200 vessels annually and demonstrating resilience in dry-docking capabilities for ships up to 125,000 DWT. The yard expanded into offshore engineering, delivering more than 20 offshore support vessels to Singaporean and Indian owners between the early and mid-2020s, incorporating advanced modular techniques for efficiency. Innovations in specialized vessel construction include the delivery of the cable-laying vessel Cable Infinity and the very large Surya Veerya, marking entries into high-precision subsea and gas transport sectors. A landmark in sustainable occurred with the development of 5,000 DWT eco bulk carriers featuring battery systems (ESS) for electric hybrid propulsion, enabling reduced emissions and classification through in-house detailed design. On June 28, 2024, the yard set a record by simultaneously achieving three milestones in this series: keel-laying the eighth vessel, Misje Lily (Yard No. NC0260); launching the sixth, Misje Lotus (Yard No. NC0255), designed by Norway; and delivering the fifth, Misje Rose (Yard No. NC0254), to Misje Eco Bulk AS in . This event underscored advancements in hybrid technology and parallel production workflows. In 2025, Colombo Dockyard completed its first dry-docking of a specialized cable-lay vessel, extending repair expertise to complex subsea equipment beyond standard hull maintenance. The introduction of Rapid Response Afloat Repair Services (RRARS) further innovated operations, allowing in-situ repairs without dry-docking to minimize downtime for clients. These developments, culminating in the yard's 50th anniversary celebrations in 2024, reflect a shift toward eco-efficient technologies and diversified capabilities amid regional maritime demands.

Customers and Markets

Sri Lankan Military and Government Contracts

Colombo Dockyard has served as a primary shipbuilder for the since the early 1980s, constructing offshore patrol vessels and tailored to operational needs. The yard delivered its first offshore patrol vessel to the navy in 1983, marking the inception of domestic military capabilities. Over subsequent decades, it produced multiple naval vessels, including P494, commissioned in 1997 after construction at the facility. Additional examples include naval vessel P439, completed in 2006 with a of 48 tons. The dockyard's contributions extend to repairs and specialized manufacturing for varying naval requirements, fostering a sustained evidenced by consistent orders. In parallel, contracts have included civilian maritime assets, such as a 2019 agreement with the for two pilot boats valued at USD 3.12 million, selected via cabinet-approved procurement. For forces, Colombo Dockyard secured a significant cabinet-approved worth $180 million to build three offshore patrol vessels for the , enhancing coastal security infrastructure. Following the 2025 strategic collaboration with India's , which acquired a controlling stake, the company reaffirmed its commitment to fulfilling requirements without engaging in foreign defense projects. This arrangement aims to bolster technical capabilities while prioritizing national maritime needs.

International Commercial Clients

Colombo Dockyard PLC has established a diverse portfolio of international commercial clients, focusing on ship repair, , and newbuilds for offshore, , and specialized vessel operators across , , and beyond. In 2024, the company executed 183 ship repair projects, including 74 drydockings, generating Rs. 14,188 million in revenue, with significant contributions from foreign commercial entities excluding contracts. Key markets include (28% of export revenue at Rs. 7,075 million), (35% at Rs. 8,964 million), and , reflecting the yard's strategic location on major shipping routes. Norway represents a cornerstone of newbuilding activity, with Misje Eco Bulk AS commissioning a series of eight 5,000 DWT hybrid eco bulk carriers (yard nos. NC/253 to NC/260), featuring energy storage battery systems and DNV classification for reduced emissions. The first four were delivered between 2023 and 2024, followed by Misje Lily on August 14, 2025, with detailed design adapted from Wärtsilä concepts. This series, totaling six initial orders from 2020 plus two additions in December 2023, marks Misje as Colombo Dockyard's inaugural European commercial client for such vessels. In India, the yard has catered to offshore and sectors, building multiple platform/ROV support vessels (ROVSVs) for Greatship Global Ltd., including Greatship Roopa (delivered July 12, 2012, DP2 compliant with SPS Code 2008 for 35-day endurance) and Greatship Rashi (78m, yard's largest at the time as the 218th newbuild). Repairs for the and other operators, such as Dharti Dredging, have included drydocking for dredgers like those serviced in 2013. Recent 2024 repairs encompassed vessels SCI and SCI , the longest drydocked to date, alongside Swarna Pushp, underscoring deepening ties amid 's maritime expansion. contributes through and repairs, accounting for Rs. 1,274 million in 2024 exports. French clients include Bourbon Offshore, which has favored the yard for routine drydocking and lay-up repairs of OSVs like Bourbon Viking (2010), Bourbon Thale, Thera, Theytis, and , citing strategic location and service speed for vessels in the and . Louis Dreyfus utilized repairs for the cable-laying ship Ile de Bréhat in 2024 (Rs. 472 million segment), while FT Marine SAS received the cable laying and repair vessel C/S (yard no. NC/256, delivered July 2023). Additional European engagements feature for cutter suction dredger lay-up and repairs (2016) and Spanish trawler drydocks with survey contracts in 2024.
Key International Commercial ClientsCountryServices ProvidedNotable Examples
Misje Eco Bulk ASNewbuilds (eco bulk carriers)8 vessels delivered/planned 2023–2025
Greatship Global Ltd.Newbuilds (ROVSVs) & repairsGreatship Roopa (2012), Rashi
Bourbon OffshoreRepairs (OSVs)Multiple vessels 2010–present
Louis Dreyfus / FT Marine SASRepairs & newbuilds (cable vessels)Ile de Bréhat (2024), C/S (2023)
Dredging Corporation of IndiaRepairs (dredgers)Multiple since 2013
These engagements, supported by four drydocks handling up to 125,000 DWT, position Colombo Dockyard as a competitive hub for commercial operators seeking cost-effective, rapid-turnaround services amid regional geopolitical shifts.

Emerging Markets and Partnerships

In June 2025, Colombo Dockyard PLC (CDPLC) announced a pivotal through the acquisition of a 51% controlling stake by India's state-owned Limited (MDL) for $52.96 million, marking MDL's first international expansion and providing CDPLC with capital infusion to address its debt burden. This deal, approved by MDL's board on June 30, 2025, facilitates in advanced and repair techniques, joint bidding for international contracts, and enhanced operational capabilities at CDPLC's facilities. The collaboration aims to position as a key maritime hub in the , leveraging MDL's expertise in naval and commercial vessels while utilizing CDPLC's strategic location for regional servicing. CDPLC has deepened ties with the Indian shipping sector, including servicing vessels for major firms and participating in INMEX SMM 2025 in to forge new alliances in ship repair and construction. Beyond , the yard has secured contracts in eco-friendly shipping, such as building six 5,000 dwt bulk carriers for Norway's Misje Eco Bulk, with the eighth vessel, Misje Lily, delivered in September 2025, emphasizing fuel-efficient designs for sustainable operations. These efforts extend to emerging sectors like and offshore wind support services, targeting growth in South Asian and markets. Representations at events such as Asia Pacific Maritime 2024 in Singapore underscore CDPLC's outreach to Southeast Asian and Far Eastern clients, promoting Colombo as a competitive repair center amid competition from regional yards. Historical clients from Europe, the Far East, and India continue to drive diversification, though the MDL partnership is expected to accelerate entry into high-value defense and green technology segments.

Ownership, Governance, and Financial Performance

Evolution of Ownership Structure

Colombo Dockyard began operations on August 1, 1974, as a state-owned ship repair facility under the management of the , focusing initially on dry-docking and maintenance services for vessels calling at Colombo Port. This government-controlled structure reflected Sri Lanka's post-independence efforts to develop indigenous maritime infrastructure, leveraging the legacy of British-era dock facilities without significant private or foreign equity involvement. In 1993, the entity was restructured as Colombo Dockyard PLC through a agreement with Japan's Dockyard Co. Ltd., which acquired a controlling 51% stake to introduce advanced technologies and management expertise. The Sri Lankan government retained substantial ownership, holding approximately 35% via entities, while the remaining shares were distributed among local institutions and employees, enabling the yard's expansion into full-scale ship construction and international markets. This foreign-majority model, atypical for strategic assets in developing economies, prioritized operational efficiency over national control, resulting in over 400 vessels built or repaired by the early 2020s. On December 10, 2024, Dockyard notified the board of its decision to divest its 51% stake, citing mounting financial losses, intensified global competition, and strategic refocus amid Japan's shrinking domestic shipbuilding sector. The divestiture process, which included terminating the management agreement, prompted Colombo Dockyard to seek new strategic investors while the government evaluated implications of transitions. By June 27, 2025, India's state-owned Limited finalized the acquisition of the 51% stake for USD 52.96 million, securing majority control and designating as a to enhance regional capabilities and supply chain integration. This shift replaced Japanese technical influence with Indian maritime priorities, with post-acquisition shareholders including at 51%, the Employees' at around 16%, and the Corporation at 5%, alongside minority public holdings. The transaction, subject to regulatory approvals and capital infusions, underscored evolving geopolitical dynamics in South Asian maritime infrastructure. Colombo Dockyard PLC's revenue grew substantially from 9.67 billion (LKR) in 2020 to 36.17 billion LKR in 2023, driven by increased demand for ship repairs and newbuilds amid regional maritime activity, before contracting to 25.45 billion LKR in 2024 due to project completion cycles and economic pressures in . This expansion masked underlying cost pressures, as frequently exceeded gross profit thresholds, leading to negative gross margins in 2023 (-17.48%). Profitability trends reveal persistent volatility and overall weakness, with net income swinging from a loss of 1.16 billion LKR in 2020 to modest profits of 249 million LKR in 2021 and 674 million LKR in 2022, before plunging to a record loss of 11.02 billion LKR in 2023 and narrowing to a 2.74 billion LKR loss in 2024. Net profit margins reflected this instability, averaging negative territory except for brief positives of 1.45% in 2021 and 2.47% in 2022, with 2023's -30.48% margin indicating acute operational inefficiencies or impairment charges. Gross profit margins averaged around 4% from 2020 to 2024 but deteriorated sharply in cost-heavy years, underscoring vulnerability to input price fluctuations and fixed overheads in the capital-intensive shipyard sector.
Year (LKR millions) (LKR millions) (%)
20209,674-1,162-12.01
202117,2322491.45
202227,2926742.47
202336,168-11,024-30.48
202425,447-2,742-10.77
Into 2025, interim results indicated ongoing losses, with second-quarter net income at -808 million LKR amid revenue of 6.27 billion LKR, suggesting continued margin compression from financing costs and subdued order backlogs. These trends align with broader challenges in Sri Lanka's post-economic crisis environment, where high debt servicing—evident in elevated net finance expenses—eroded earnings despite revenue recovery efforts. Overall, while revenue scalability demonstrates market access, profitability hinges on cost discipline and project execution, with losses dominating since 2023.

Management Practices and Reforms

Colombo Dockyard PLC operates under a framework that includes dedicated policies on board composition, committee operations, nominations, and re-elections, ensuring compliance with Sri Lanka's Securities and Exchange Commission rules and listing requirements. The board oversees strategic direction, with committees handling , , and related party transactions to mitigate conflicts and enhance accountability. In May 2025, the board updated committee memberships, appointing Chairman Lalith Ganlath to key roles to streamline decision-making. Operational management emphasizes , with the executive team performing regular analyses to identify vulnerabilities in ship repair, , and supply chains, subsequently advising the board on strategies such as diversified supplier networks and contingency . The company's , certified to ISO 9001:2015, integrates process controls across engineering and offshore activities, prioritizing defect prevention and continuous improvement through internal audits and employee training programs. practices further support efficiency, focusing on performance optimization via monitoring systems and sustainable to reduce operational costs. Reforms have accelerated amid financial pressures and ownership shifts. In December 2024, Japanese majority shareholder Dockyard divested its 51% stake and ended the technical management agreement, attributing the move to persistent underperformance and the need for fresh capital to revitalize operations. This followed investor criticisms of alleged that disproportionately benefited the parent company, eroding local profitability and prompting demands for transparent cost reforms. By June 2025, India's secured board approval for a controlling stake acquisition, initiating reforms like lean management implementation to cut waste, upgrades at port, and reduced intermediation costs through direct client engagements. These changes aim to address historical inefficiencies, such as over-reliance on during downturns, by refocusing on high-margin repairs and forging partnerships for .

Strategic Role and Controversies

Geopolitical and Economic Significance

Colombo Dockyard PLC serves as a cornerstone of Sri Lanka's maritime economy, generating employment for over 1,000 workers and contributing to export earnings through ship repair and construction services that handle more than 200 vessels annually, including commercial and naval craft. Its operations in Colombo Port facilitate regional trade logistics, supporting Sri Lanka's position as a transshipment hub in the Indian Ocean despite challenges from the 2022 national financial crisis, which led to contract losses and rising liabilities. Geopolitically, the dockyard's strategic location enhances maritime security in the , enabling repairs for international navies and bolstering supply chains amid rising tensions over sea lanes. The acquisition of a 51% controlling stake by India's state-owned Limited on July 1, 2025, for US$52.96 million—previously held by Japan's Dockyard—marks a pivotal shift, providing enhanced naval access near China-operated Port and countering Beijing's regional infrastructure dominance. This deal, approved amid Sri Lanka's , strengthens bilateral defense ties while revitalizing the facility's capabilities for joint projects in and . The is projected to elevate Sri Lanka's maritime sector through transfers and expanded international contracts, potentially increasing revenue amid prior declines, though concerns persist over foreign control of a national asset vital for sovereignty in contested waters.

Debates on Privatization and Foreign Investment

In 2025, Japan's Onomichi Dockyard Company Ltd. announced its intention to divest its 51% stake in Colombo Dockyard PLC (CDPLC), citing the yard's persistent financial losses and operational challenges amid Sri Lanka's economic crisis. This move prompted the Sri Lankan government, which held a minority stake through its restructuring efforts, to facilitate a sale to India's state-owned Mazagon Dock Shipbuilders Ltd. (MDL), a subsidiary of the Indian Ministry of Defence, for $52.96 million in July 2025, granting India a controlling interest. Proponents of the transaction argued it provided essential capital infusion for CDPLC's debt-laden balance sheet, enabling modernization and access to Indian naval contracts to revive profitability. Critics, including Sri Lankan nationalist groups and the , condemned the divestment as a hasty of a strategic national asset, urging its reversal to restore full state control and prevent foreign dominance over maritime repair capabilities vital for Sri Lanka's defense and economy. They highlighted risks to , asserting that ceding majority ownership to an Indian defense firm could compromise Sri Lanka's , especially given the yard's role in servicing regional naval vessels and its proximity to key shipping lanes. Indian analysts, however, framed the acquisition as a counterbalance to Chinese influence in Sri Lankan ports, enhancing bilateral defense ties without overt territorial claims. Geopolitical tensions amplified the debate, with opponents warning of reignited regional rivalries, as Japanese ownership had been viewed as neutral compared to perceived Indian in the . The Sri Lankan government's push for the deal aligned with broader reforms under IMF-mandated fiscal consolidation, yet faced domestic backlash over transparency and long-term benefits, including fears of limitations and dependency on Indian markets. As of October 2025, shareholder votes on issues reflected ongoing investor skepticism, with adjustments to equity allotments signaling unresolved ownership frictions.

Criticisms of Operational Efficiency and National Security

Colombo Dockyard PLC has faced scrutiny over its operational efficiency, particularly highlighted by substantial financial losses and persistent profitability challenges. In 2023, the company reported a net loss of LKR 11.1 billion (approximately USD 38.2 million), attributed to poor performance amid adverse market conditions including the Easter Sunday attacks, COVID-19 disruptions, and a downturn in shipbuilding demand. By 2024, revenues had declined by one-third compared to the previous year, exacerbating concerns over gross profitability deficits and suspected transfer pricing practices that allegedly favored its Japanese parent company, Onomichi Dockyard. Investors and analysts have pointed to these issues as evidence of underlying operational inefficiencies, including suboptimal resource allocation and inadequate adaptation to global shipping market fluctuations, which have strained the yard's balance sheet and prompted the divestment of its majority stake. National security criticisms have intensified around the yard's ownership transitions and strategic vulnerabilities. As a key facility for repairing Sri Lankan vessels and located in a geopolitically sensitive position near major shipping lanes, Dockyard's partial foreign ownership has raised alarms about potential compromises to sovereignty. In April 2025, government plans to divest stakes in strategic assets like the dockyard sparked outrage, with critics arguing that ceding control to foreign entities undermines economic independence and exposes military repair capabilities to external influence. The proposed acquisition of a controlling 51% stake by India's Limited—a state-owned firm under India's specializing in warships and submarines—drew particular opposition from Sri Lankan nationalists and the , who warned it could entangle the island in rivalries, facilitate foreign military access, and erode national control over a critical defense node. These concerns are compounded by broader regional dynamics, where India's growing influence in Sri Lankan maritime assets is viewed by some as a counter to Chinese presence but at the risk of over-dependence on . Proponents of retaining domestic ownership advocate for state-led reforms to bolster efficiency while safeguarding security, arguing that foreign military-linked investors prioritize geopolitical agendas over local operational needs. Despite these debates, the transaction with Mazagon Dock advanced toward closure by late 2025, pending regulatory approvals in both nations.

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