Shares of Mazagon Dock Shipbuilders Ltd surged 3% on 25 September after the company announced that they have begun the production for the first Multipurpose Cargo Vessel (MPV) for Navi Merchants, Denmark.

Earlier, the company had signed a contract with Navi Merchants for designing, building, and delivering a total of six vessels, along with options for four more. Each vessel will have a capacity of 7,500 DWT and the whole project is worth around Rs 700 crore ($86.05 million). 

The company said that each vessel will have a hybrid propulsion technology that will be classified under DNV (Det Norske Veritas) and will meet stringent emission standards. 

These ICe Class 1B vessels will be equipped with a single screw, controllable pitch medium-speed diesel engine and incorporate Electrical Energy Storage systems to adhere to DNV Class notation Battery (Safety) for unrestricted global operations.

The company claimed that the versatile design of these vessels allows them to transport a wide variety of cargo, including project cargo, containers, dry bulk, dangerous goods, and steel products. 

The first vessel is scheduled to be delivered in April 2026.

Mazagon Dock Shipbuilders Limited (MDL) was founded in 1774 and is one of India’s leading shipbuilding companies. Since 1960, MDL has launched 801 vessels, including submarines, cargo and passenger ships, warships, and offshore platforms. 

At 2:02 pm, the shares of Mazagon Dock were trading 1.43% higher at Rs 4,283 on NSE. 

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