Cochin Shipyard secures ₹250 Crore order; stock gains

Cochin Shipyard Limited witnessed marginal gains in Monday intraday session after the company announced that it has received a “notable” order from Polestar Maritime Ltd. The order received is for construction of two Tugs of 70 T bollardpull power.

Following this development, the company’s counter touched an intraday high of ₹2,093.60 per piece.

At around 12.44 PM, Cochin Shipyard was trading 1.60% higher at ₹2,077 against the previous close of ₹2,044.20 on NSE.

As per Cochin Shipyard, orders within ₹100 Crore to ₹250 Crore are classified as ‘notable’. The company expects to deliver these tugs in May 2027, and September 2027, respectively.

Cochin Shipyard informed the bourses and shareholders that these tugs to be delivered are in addition to the three 70 T bollard pull tugs earlier received by Udupi Cochin Shipyard Ltd. (Udupi-CSL). It is a wholly-owned subsidiary of Cochin Shipyard.

The company will build these tugs in the designs of Robert Allan Ltd, a leading global design house for harbour tugs, the company said.Cochin Shipyard and its subsidiaries have established an industry standard for delivery timelines and the quality of tugs constructed in India. Udupi-CSL has been leading the initial projects under this scheme.

The company also said that it will jointly-develop these vessels with Udupi-CSL. The two companies will enter into a work-share agreement. The vessels will have two main engines of 1,838 kW and 2.7m propellers from Niigata IHI Power Systems, Japan, it said.

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