The company classified the order under the “Notable” category, indicating an order value between ₹100 crore and ₹250 crore. The tugs will be built in line with the Approved Standard Tug Design and Specifications (ASTDS) issued by the Ministry of Ports, Shipping & Waterways, Government of India.
According to the company, deliveries of the tugs will commence from November 2028 and are scheduled to be completed by June 2029.Also Read: Cochin Shipyard profit down 18% despite higher revenue, plans electric ship project and Europe expansion
Cochin Shipyard said none of its promoters, promoter group entities or group companies have any interest in the entity awarding the order. The company also stated that the contract does not qualify as a related-party transaction.
Back in February this year, Cochin Shipyard had emerged as the lowest bidder for a ₹5,000 crore Navy vessel contract as the shipbuilding and maintenance company was declared the lowest bidder (L1) for a tender floated by India’s Ministry of Defence to build five Next Generation Survey Vessels (NGSVs) for the Indian Navy.
However, the company mentioned that the final award of the contract is subject to the completion of necessary formalities. It added that the order does not involve any related party transactions and that its promoter group has no interest in the awarding entity.
Also Read: Cochin Shipyard shares rise as it wins up to ₹250 crore green tug order from Polestar Maritime
Shares of Cochin Shipyard Ltd ended at ₹1,815.20, up by ₹62.15, or 3.55%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: May 7, 2026 4:32 PM IST
