Cochin Shipyard inks deal with Denmark’s Svitzer for electric tugboats

Cochin Shipyard Limited (CSL) has secured a major international order after signing shipbuilding contracts with Denmark-based towage operator Svitzer for a series of next-generation electric tugs. The state-owned Miniratna shipbuilder said the order, categorised as “significant”, is valued between ₹250 crore and ₹500 crore.

Under the agreement, CSL will construct four 26-metre fully electric ‘TRAnsverse 2600E’ tugboats, each offering a bollard pull capacity of 70 tonnes. The contract also provides Svitzer the option to order up to four additional vessels as part of its global fleet expansion and decarbonisation drive. Deliveries are scheduled to begin in late 2027.

CSL noted that the project blends Svitzer’s sustainability-focused towage expertise with its own shipbuilding strengths, supporting the Danish company’s worldwide operational upgrades.

Meanwhile, Cochin Shipyard’s stock ended higher for the second day in a row on Friday, rising 0.27% to ₹1,644 on the BSE. Despite the slight uptick, the counter remains down more than 30% over the past six months. The company’s market capitalisation currently stands at approximately ₹43,250 crore.

Earlier this year, CSL’s board declared an interim dividend of ₹4 per share for FY26, with November 18 set as the record date and disbursements scheduled by December 11.