Shares of Cochin Shipyard Ltd were locked at 5% upper circuit on Friday, 27 December, after the company received an order from Adani Ports and Special Economic Zone Ltd (APSEZ) for eight state-of-the-art harbour tugs.
The company stated that the tugs, with a total contract value of approximately Rs 450 crore, are slated for delivery starting in December 2026 and will continue through May 2028, enhancing the efficiency and safety of vessel operations at Indian ports.
Adani Port, in its regulatory filing, said, “This initiative aligns with the government’s Make in India and Aatmanirbhar Bharat initiatives by boosting local manufacturing and enhancing self-reliance in the maritime sector.”
Ashwani Gupta, Whole-time Director & CEO of APSEZ, said: “This collaboration to procure from Cochin Shipyard Ltd signifies our commitment to enhancing maritime infrastructure in India and demonstrates our confidence in our nation’s PSUs. By leveraging local manufacturing capabilities, which are world-class, we aim to contribute to the ‘Make in India’ initiative while ensuring that our operations meet international standards of safety and efficiency.”
Harbour tugs, commonly known as tugboats, are crucial vessels in ports and harbours. Despite their compact size, these powerful boats play a vital role in assisting larger ships with a range of manoeuvres.
Previously, APSEZ placed an order with Cochin Shipyard for two 62-tonne bollard pull Azimuthing Stern Drive (ASD) tugs for Ocean Sparkle Limited, a company acquired by Adani Harbour Services in 2022.
Both tugs were delivered ahead of schedule and are now operational at Paradeep Port and New Mangalore Port.
These 62-tonne Bollard pull ASD tugs are primarily designed for harbour towing and assisting ships at Indian ports, with additional capabilities for firefighting and coastal towing.
At 1:12 pm, the shares of Cochin Shipyard were locked 5% higher at Rs 1,539.05 on NSE.
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