Cochin Shipyard signs agreements to acquire 23% stake in Dutch ship design firm Conoship

Cochin Shipyard Limited (CSL) has signed a Share Purchase Agreement and a Shareholders’ and Cooperation Agreement with the shareholders of Conoship International Holding B.V. (Conoship) for the proposed acquisition of a 23% equity stake in the Netherlands-based ship design and engineering company.

The agreements were executed on Thursday, following the approval accorded by CSL’s board in January 2026. CSL will acquire the 23% stake for a cash consideration of €2.30 million. Clearance for the transaction has been obtained from the Department of Investment and Public Asset Management (DIPAM), with completion expected within two months.

Conoship, incorporated on February 13, 2014, is a Netherlands-based ship design and engineering company with a portfolio covering general cargo vessels, tankers, container ships, dredgers, ferries and offshore vessels. The company, headquartered in Groningen, provides ship design and engineering services including feasibility studies, concept design, full engineering and production packages, project financing and yard selection to shipyards worldwide.

The acquisition is aimed at helping CSL expand into European coastal and short-sea shipping through advanced ship design solutions. CSL and Conoship will also jointly explore opportunities in emerging technologies, including alternative fuels for short-sea vessels, coastal shipping and inland waterways, as well as related marine, shipping and offshore services.

This marks Cochin Shipyard’s first structured equity participation in a foreign ship design firm, reflecting its intent to move beyond pure shipbuilding into design-led and technology-driven partnerships. Conoship reported group turnover of €4 million in 2024, excluding intercompany adjustments, compared with €3.51 million in 2023 and €2.4 million in 2022.

The Conoship investment follows CSL’s board also clearing the formation of a joint venture with HBL Engineering to develop electric mobility and energy storage solutions for marine use, part of a broader push into future-ready maritime technologies. Cochin Shipyard has already worked with another Netherlands-based firm, Groot Ship Design, on its ongoing HS EcoFreighter series of multi-purpose vessels, the second of which, MS Maria, was delivered in August 2026.