Cochin Shipyard Bags Electric Tug Deal from Denmark’s Svitzer
Cochin Shipyard Limited (CSL) has signed a shipbuilding contract with Denmark-based Svitzer to develop advanced fully electric towing vessels. The Miniratna PSU said the order is classified as “significant”, falling in the value range of ₹250 crore to ₹500 crore. The project marks a boost for India’s green maritime capabilities.
Under the contract, CSL will build four 26-metre ‘TRAnsverse 2600E’ electric tugs featuring a 70-tonne bollard pull capacity, with provision for up to four additional vessels. These tugs will be custom-built to support Svitzer’s fleet renewal strategy and enhance its sustainable operations globally, with deliveries set to begin in late 2027.
Meanwhile, Cochin Shipyard’s stock closed marginally higher on Friday at ₹1,644, though the counter has fallen over 30% in the last six months. The company, which has a market cap of about ₹43,250 crore, recently announced an interim dividend of ₹4 per share for FY 2025-26, to be paid by December 11.
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