Adani Ports and Special Economic Zone placed an order for 8, 70-tonne bollard pull tugs from Cochin Shipyard, valued at ₹450 Crore. This move aims to improve vessel operation efficiency in Indian ports.
The tugs, each with a 70-tonne bollard pull capacity, are expected to be delivered between December 2026 and May 2028 and will increase APSEZ’s tug fleet to 152. This significant investment aims to boost the efficiency and safety of vessel operations across Indian ports.
The deal highlights APSEZ’s commitment to India’s maritime infrastructure and growth, Adani Ports and Special Economic Zone said in a press release on the stock exchanges.
Previously, APSEZ contracted Cochin Shipyard for two 62-tonne bollard pull ASD tugs for Ocean Sparkle Ltd, which were delivered ahead of schedule. Currently, three more ASD tugs are being built, bringing the total to 13. This will ensure that APSEZ’s fleet remains efficient and reliable for port services.
The initiative also aligns with APSEZ’s broader strategy to modernise India’s maritime sector with sustainable, world-class shipbuilding and contribute to the nation’s economic growth.
On December 27, 2024, Adani Ports and Special Economic Zone’s share price traded 0.55% lower at ₹1,237.15 at 2:00 PM on the NSE, after opening at ₹1,248.45, up from the previous close of ₹1,243.95. Meanwhile, shares of Cochin Shipyard hit the upper circuit limit of 5%, rising to ₹1,539.05 on the NSE.
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