Cochin Shipyard signs contract with Denmark-based firm; key details
The order, classified as ‘significant’ by the Miniratna company, falls within the value range of Rs 250 crore to Rs 500 crore.
- Dec 6, 2025,
- Updated Dec 6, 2025 1:13 PM IST
State-owned firm Cochin Shipyard Limited announced on Saturday that it has signed shipbuilding contracts with Denmark-based Svitzer for the construction of advanced electric towing vessels.
The order, classified as ‘significant’ by the Miniratna company, falls within the value range of Rs 250 crore to Rs 500 crore.
Following the development, the company stated that the contract entails building four 26-metre fully electric 'TRAnsverse' tugs, specifically the ‘TRAnsverse 2600E’ model, with a 70-tonne bollard pull capacity. The agreement also includes an option for the construction of up to four additional vessels.
On Friday, shares of Cochin Shipyard gained for the second straight session to close 0.27% higher at Rs 1,644 against its previous close of Rs 1,639.60 on the BSE. The counter has declined over 30% in the last six months. The company commands a market cap of Rs 43,250 crore.
The delivery of the tugs is targeted to commence from late 2027. According to the exchange filing, these vessels will be built to Svitzer's specifications to support its global fleet renewal plan and advancement in operations worldwide. The shipbuilder noted that the collaboration combines Svitzer's expertise in sustainable towage with CSL's shipbuilding capabilities.
Earlier, the company's Board of Directors had declared an interim dividend of Rs 4 per equity share for the financial year 2025-26. The record date for the payout was fixed as November 18, with the dividend aimed to be paid by December 11.
State-owned firm Cochin Shipyard Limited announced on Saturday that it has signed shipbuilding contracts with Denmark-based Svitzer for the construction of advanced electric towing vessels.
The order, classified as ‘significant’ by the Miniratna company, falls within the value range of Rs 250 crore to Rs 500 crore.
Following the development, the company stated that the contract entails building four 26-metre fully electric 'TRAnsverse' tugs, specifically the ‘TRAnsverse 2600E’ model, with a 70-tonne bollard pull capacity. The agreement also includes an option for the construction of up to four additional vessels.
On Friday, shares of Cochin Shipyard gained for the second straight session to close 0.27% higher at Rs 1,644 against its previous close of Rs 1,639.60 on the BSE. The counter has declined over 30% in the last six months. The company commands a market cap of Rs 43,250 crore.
The delivery of the tugs is targeted to commence from late 2027. According to the exchange filing, these vessels will be built to Svitzer's specifications to support its global fleet renewal plan and advancement in operations worldwide. The shipbuilder noted that the collaboration combines Svitzer's expertise in sustainable towage with CSL's shipbuilding capabilities.
Earlier, the company's Board of Directors had declared an interim dividend of Rs 4 per equity share for the financial year 2025-26. The record date for the payout was fixed as November 18, with the dividend aimed to be paid by December 11.