Shares of Cochin Shipyard Ltd ended flat after touching a day’s excessive of Rs 1,802 on thirty first October, whilst the corporate introduced it has signed a Letter of Intent (LoI) with Denmark-based Svitzer to construct a brand new era of electrical TRAnsverse tugs.
Cochin Shipyard and Denmark’s Svitzer signed a Letter of Intent (LoI) on thirtieth October, 2025, throughout the India Maritime Week in Mumbai. This occasion was organised by the Ministry of Ports, Delivery and Waterways.
Underneath the LoI, the 2 firms will collectively construct electrical TRAnsverse tugboats at Cochin Shipyard’s amenities in India. The transfer displays Svitzer’s long-term dedication to the Make in India initiative. It additionally helps India’s inexperienced port and sustainable towage objectives.
TRAnsverse tugs are identified for his or her excessive manoeuvrability and effectivity. They provide higher management in tight areas whereas decreasing power use and emissions. The vessels can be a part of Svitzer’s international fleet renewal and enlargement plans.
Svitzer CEO Kasper Nilaus stated the partnership combines Svitzer’s lengthy towage expertise with India’s engineering and manufacturing strengths. The purpose is to ship cleaner and safer harbour operations. Cochin Shipyard CMD Madhu S Nair added that the collaboration will spotlight India’s shipbuilding capabilities. It would additionally enhance native provide chains and promote the adoption of inexperienced tugboats throughout home and international ports.
At 3:30 PM, shares of Cochin Shipyard ended 0.52% larger at Rs 1,791.80 on NSE.
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