Cochin Shipyard Ltd witnessed a 5% surge in its share price after Adani Ports and Special Economic Zone Ltd (APSEZ) placed India’s largest order for eight 70-tonne bollard pull tugs worth ₹450 crore. The order supports the “Make in India” and Aatmanirbhar Bharat initiatives.
Key Details of the Order:
- Fleet Expansion: Adani’s tug fleet will increase to 152 with this order.
- Delivery Timeline: Tugs are set for delivery between December 2026 and May 2028.
- Previous Collaboration: Cochin Shipyard has previously delivered two tugs ahead of schedule and is working on three more for Adani Ports.
CEO Statement:
Mr. Ashwani Gupta, CEO of APSEZ, emphasized, “This collaboration highlights our commitment to enhancing India’s maritime infrastructure while contributing to the ‘Make in India’ initiative. Cochin Shipyard’s capabilities ensure international safety and efficiency standards.”
Strategic Implications:
The tugs will significantly enhance safety and operational efficiency across Indian ports, reinforcing Adani’s focus on strengthening maritime infrastructure with world-class manufacturing capabilities.
