State-owned Cochin Shipyard Ltd has announced that its wholly owned subsidiary, Udupi Cochin Shipyard Ltd (Udupi-CSL), has secured an order from Ocean Sparkle, part of the Adani Group, for the construction of four advanced ASD tugs.
Order Details and Value
The contract involves the construction of four Azimuthing Stern Drive (ASD) tugs with a bollard pull capacity of 70 tonnes. The company has classified the deal as a “notable order,” indicating a value in the range of ₹100 crore to ₹250 crore.
These vessels will be built in accordance with the Approved Standard Tug Design and Specifications issued by the Ministry of Ports, Shipping and Waterways.
Delivery Timeline
According to Cochin Shipyard, construction work will be executed in a phased manner. Delivery of the tugs is scheduled to begin in November 2028 and is expected to be completed by June 2029.
No Related Party Involvement
The company clarified that neither Cochin Shipyard, its promoter group, nor any related entities have any stake or interest in Ocean Sparkle. It also confirmed that the contract does not fall under related-party transactions.
Broader Business Activity
Earlier this year, Cochin Shipyard also emerged as the lowest bidder for a major ₹5,000 crore Indian Navy contract to build five Next Generation Survey Vessels. That project is currently subject to final procedural approvals.
The company has been actively expanding its order book across both defence and commercial segments, including green tug projects and international opportunities.
Market Performance
Following the announcement of recent developments, shares of Cochin Shipyard Ltd closed at ₹1,815.20 on the BSE, gaining ₹62.15 or 3.55 percent.
The latest order from Ocean Sparkle further strengthens Cochin Shipyard’s commercial portfolio, adding to its growing presence in both defence and port services vessel segments, while reinforcing its role in India’s maritime manufacturing ecosystem.
