Cochin Shipyard Bags ₹550 Cr Order for World’s 1st Zero Emission Container Vessel

Cochin Shipyard Bags ₹550 Cr Order for World's 1st Zero Emission Container Vessel

Key Points of Cochin Shipyard Order win with Zero Emission Container Vessel:

  • Cochin Shipyard has secured an order worth Rs 550 crore for the construction of two zero-emission feeder container vessels.
  • The order is from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, both subsidiaries of the Samskip Group, headquartered in the Netherlands.
  • The vessels can carry up to 365, 45-feet long high cube containers each and are designed for the European market.
  • Feeder container vessels are medium-sized ships that collect shipping containers from different ports and transport them to central container terminals or shipment hubs.
  • The first vessel is expected to be delivered within 28 months, while the second vessel will be delivered within 34 months.
  • Cochin Shipyard’s shares have declined by over 16 percent so far this year, but the stock still maintains a 50 percent increase over the past 12 months.
  • With the growing demand for eco-friendly shipping solutions, Cochin Shipyard is well-positioned to meet the evolving needs of the market and drive sustainable growth in the years ahead.

Details of Cochin Shipyard Zero Emission Container Vessel Order Win:

Cochin Shipyard Bags Order for Zero Emission Feeder Container Vessels from Samskip Group

Indian Defence PSU Cochin Shipyard Ltd. has secured an order worth Rs 550 crore from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, both subsidiaries of the Samskip Group, headquartered in the Netherlands. The order is for the construction of two zero-emission feeder container vessels that can carry up to 365, 45-feet long high cube containers each. These vessels are designed to serve the European market where there is a growing demand for sustainable transportation solutions.

Feeder container vessels are medium-sized ships that collect shipping containers from different ports and transport them to central container terminals or shipment hubs. These vessels act as a service between small ports and major ones, carrying between 300 to 1,000 containers on average, with a capacity of up to 3,000 TEU (Twenty-Foot Equivalent).

According to the company’s statement, the first vessel is expected to be delivered within 28 months, while the second vessel will be delivered within 34 months. Cochin Shipyard’s shares had a strong performance in 2022, but have declined by over 16 percent so far this year. However, the stock still maintains a 50 percent increase over the past 12 months.

This order represents a significant milestone for Cochin Shipyard as it continues to expand its presence in the global shipbuilding industry. With the growing demand for eco-friendly shipping solutions, the company is well-positioned to meet the evolving needs of the market and drive sustainable growth in the years ahead.

About Cochin Shipyard:

Located in the port-city of Kochi in the Indian state of Kerala, Cochin Shipyard is a major shipbuilding and maintenance facility. It is among a range of maritime-related facilities in the region. The shipyard’s services include the construction of platform supply vessels and double-hulled oil tankers.

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