Knowledge Marine & Engineering Works Buys Dredger River Pearl 48 for Three-Year New Mangalore Contract

Knowledge Marine & Engineering Works Limited (KMEW) has completed the purchase of the trailing suction hopper dredger River Pearl 48 for about ₹250 crore, which is over $26 million. The vessel will be put to work immediately at New Mangalore Port Authority (NMPA) on a recently awarded three-year maintenance dredging contract. The seller has not been named.

The vessel

River Pearl 48 was built in 2021. It can dredge to a maximum depth of 36 metres and has an annual dredging capacity of 8 to 10 million cubic metres. KMEW says the purchase expands its fleet and strengthens its ability to take on large maintenance dredging jobs.

The New Mangalore contract

The dredger will support a three-year maintenance dredging contract at NMPA worth ₹303.17 crore, about $32 million. Work starts on 15 November and covers FY2026-27, FY2027-28 and FY2028-29. The annual base value is about ₹101.07 crore, about $10.6 million. KMEW won the contract as the lowest bidder.

Management view

KMEW’s Chief Executive Sujay Kewalramani described the acquisition as a major milestone in the company’s growth. He also said the vessel’s capabilities could open opportunities in the defence dredging market.

Why it matters

Maintenance dredging is a recurring cost for ports with silting channels and basins, and owning a suitable dredger helps a contractor mobilise quickly and manage costs on long contracts. For NMPA, it means channel and berth depths are kept up through a fixed three-year arrangement. The announcement gives no figures on the depths required at New Mangalore or on the equipment KMEW already owns.

What next

Points to watch are the dredger’s start at New Mangalore from 15 November, KMEW’s performance against the contract schedule and any move into defence or other dredging work.