Cochin Shipyard Ltd. on Tuesday bagged a mega order from a prominent European client for the design and construction of six feeder container vessels. The order value has been classified at over Rs 2,000 crore.
Each vessel will have a capacity of about 1,700 TEU ("Twenty-foot Equivalent Unit) and powered by liquefied natural gas. A Letter of Intent in this regard was signed on Oct. 14, according to a stock exchange filing.
"A formal shipbuilding contract detailing the techno‑commercial terms will be signed in due course," it said.
The PSU company has expertise in building various types of vessels. Cochin Shipyard has built and delivered 22 large vessels, 35 offshore support vessels, 106 small and medium vessels and 31 defence vessels.
The company earned Rs 2,955 crore in the last financial year from shipbuilding operations.
The new generation coastal vessels with alternate fuels and green technologies are indicating huge potential in the replacement market of ageing short sea European shipping segment, the company said in its annual report for FY25.
Cochin Shipyard claimed it was successful in bagging such projects with innovative technologies to meet the new regulations. Further order intake is likely in FY26 as well.
Cochin Shipyard Share Price
Cochin Shipyard stock rose as much as 2.6% intraday to Rs 1,807 apiece on the NSE. The benchmark Nifty 50 was down 0.6%. The total traded turnover was Rs 165 crore. The relative strength index was at 52.
The stock has risen 9% in the last 12 months and 15% on a year-to-date basis.
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