Udupi Cochin Shipyard Ltd Secures Major Order from Wilson ASA

On June 28, 2024, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of India’s leading shipyard Cochin Shipyard Limited (CSL), secured a significant international order from Wilson ASA of Norway.

Details of the Contract

The contract involves designing and building 4 Dry Cargo Vessels with a capacity of 6300 Metric Tonnes each. An agreement is also in place for an additional 4 vessels of the same type, which will be finalised by September 19, 2024. This follows a previous contract awarded in June 2023 for 6 Dry Cargo Vessels of 3,800 Metric Tonnes capacity, currently under advanced construction in Udupi, Karnataka.

The 100-meter-long vessels, designed by Conoship International of the Netherlands, will operate as environment-friendly diesel-electric vessels for transporting general cargo in European coastal waters. The project, which totals 8 vessels, is valued at approximately ₹1,100 crores and is scheduled for completion by September 2028.

Wilson ASA, based in Bergen, Norway, is Europe’s leading operator in short-sea shipping. The company transports approximately 15 million tonnes of dry cargo across Europe annually and manages a fleet of about 130 vessels with deadweight tonnage (DWT) ranging from 1500 to 8500.

UCSL’s Recent Achievements

Since its acquisition by Cochin Shipyard Limited, Udupi Cochin Shipyard Limited (UCSL) has achieved successful deliveries of two 62T Bollard Pull Tugs to Ocean Sparkle Limited, a subsidiary of Adani Harbor Services Limited, and one 70T Bollard Pull Tug to Polestar Maritime Limited. These tugs are the 1st batch designed and built to the Approved Standard Tug Design & Specifications (ASTDS) mandated by the Government of India for Indian ports as part of the Aatma Nirbhar Bharat initiative.

UCSL has also secured additional orders for 4 70T Bollard Pull Tugs, with 3 from Ocean Sparkle Limited and one from Polestar Maritime Limited, as repeat orders.

About Cochin Shipyard Limited

Established in 1972, Cochin Shipyard Limited (CSL) is a prominent player in constructing various types of vessels and repairing and upgrading ships to extend their operational life. Over the years, CSL has developed expertise from building bulk carriers to smaller and technologically advanced vessels such as Platform Supply Vessels and Anchor Handling Tug Supply Vessels.

On June 28, 2024, the share price of Cochin Shipyard Ltd opened at ₹2,249.00 and closed at ₹2,228.00 on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.