Cochin Shipyard Secures 'Significant' Order From Svitzer To Build Fully Electric Tugs
Deliveries for the project are slated to begin from late 2027.
Cochin Shipyard Ltd. has locked in a major global deal, signing shipbuilding contracts with Denmark-based Svitzer for the construction of four fully electric ‘TRAnsverse 2600E’ tugs, with an option for four more, as per an exchange filing on Saturday.
The contract, finalised on Dec. 5, follows the Letter of Intent announced in October. The 26-metre electric tugs, each with a 70-ton bollard pull, will be built at CSL to Svitzer’s global fleet renewal specifications. Deliveries are slated to begin from late 2027. Based on its value, the project falls under CSL’s ‘Significant’ order category, in the range of Rs 250-500 crore.
CSL said the partnership blends Svitzer’s expertise in advanced, sustainable towage operations with its own shipbuilding strength and local innovation capabilities.
The deal supports India’s push to position itself as a global maritime manufacturing and skills hub under Maritime India Vision 2030, Maritime Amrit Kaal Vision 2047, and the Make in India initiative.
The company clarified that none of the promoter group entities have any interest in the awarding entity and that the contract does not fall under related-party transactions.
Cochin Shipyard‘s share price ended 0.24% higher at Rs 1,644.30 apiece on Friday, as compared to a 0.59% advance in the benchmark Nifty 50.
