Key Points of Cochin Shipyard New Order Win from Samskip
- Cochin Shipyard has secured a Rs. 550 crore order from the Netherlands-based Samskip Group for the construction of two zero-emission feeder container vessels.
- Cochin Shipyard’s shares surged 6.5 percent on March 20 following the announcement of the order.
- The order includes the design and construction of two zero-emission feeder container vessels, with an option to build two more vessels.
- The first vessel is expected to be delivered in 28 months, while the second will be delivered in 34 months.
- The new ships can carry about 365 of 45-feet long high cube containers and are intended to serve the European Market, where demand for sustainable transportation solutions is high.
- Analysts expect that most of the large contracts in the order book will begin execution from FY24 onwards.
- Cochin Shipyard’s stock has risen by 73 percent over the past three years despite falling 25 percent over the past three months.
Details of Cochin Shipyard New Order Win from Samskip
Cochin Shipyard Secures Rs. 550 Crore Order for Zero-Emission Container Vessels from Rotterdam’s Samskip Group
Indian state-owned company Cochin Shipyard’s shares surged 6.5 percent on March 20 after the firm announced it had received a lucrative Rs. 550 crore order from the Netherlands-based Samskip Group for the construction of two zero-emission feeder container vessels.
As of 9:47 am, the company’s shares were trading five percent higher at Rs. 466.5 on the Bombay Stock Exchange (BSE). Cochin Shipyard confirmed the order had come from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, based in Lysaker, Norway.
In an exchange filing, the shipbuilding company stated that the order included the design and construction of two zero-emission feeder container vessels, with the option to build two more vessels. The first vessel is expected to be delivered in 28 months, while the second will be within 34 months.
The new ships are capable of carrying about 365 of 45-feet long high cube containers, and are intended to serve the European Market, where demand for sustainable transportation solutions is high, according to Cochin Shipyard.
Analysts expect that most of the large contracts in the order book will begin execution from FY24 onwards, and that a strong pipeline of projects from the Indian Navy and other international customers will help the state-owned company’s stock climb higher over the next two to three years.
Despite falling 25 percent over the past three months, Cochin Shipyard’s stock has risen by 73 percent over the past three years.
About Cochin Shipyard:
Located in the port-city of Kochi, in the Indian state of Kerala, Cochin Shipyard is a prominent shipbuilding and maintenance facility. Among its many maritime-related services, the shipyard specializes in constructing platform supply vessels and double-hulled oil tankers.
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