Cochin Shipyard Signs LoI with Svitzer to Build Next-Gen Electric TRAnsverse Tugs

Kochi, October 31, 2025: Cochin Shipyard Limited has signed a landmark Letter of Intent (LoI) with Denmark-based Svitzer to construct a new generation of electric TRAnsverse tugs in India. The LoI was signed on October 30, 2025, during the India Maritime Week 2025, organised by the Ministry of Ports, Shipping and Waterways, Government of India, in Mumbai.

The LoI aims to accelerate the development of electric TRAnsverse tugs, designed to deliver enhanced manoeuvrability, safety, and operational efficiency. The initiative aligns with the Government of India’s Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, both of which emphasise sustainable growth and energy transition in the maritime sector.

Project Highlights

Under the LoI, Svitzer and Cochin Shipyard Limited will jointly develop next-generation electric TRAnsverse tugs, a key milestone under the “Make in India” initiative. These tugs are engineered for superior performance, energy efficiency, and lower carbon footprint, advancing green port and green towage objectives. By combining Svitzer’s global expertise in sustainable marine solutions with CSL’s shipbuilding excellence, this partnership is poised to set new standards in electric tug technology, boosting both India’s shipbuilding capabilities and global maritime sustainability efforts.

Leadership Commentary

Commenting on the collaboration, Kasper Nilaus, CEO, Svitzer, said, “With this LoI, we are taking a decisive step on our electrification journey. India’s shipbuilding ecosystem and CSL’s proven track record make Cochin a great place to develop and build the Transverse.”

The Chairman and Managing Director, Madhu S Nair of Cochin Shipyard Limited, said, “We look forward to working closely with Svitzer to build the next-generation Transverse tug in India. This partnership will deepen local supply chains, strengthen India’s maritime base, and accelerate green tugboat availability for global and domestic ports.”

Strategic Outlook

The partnership underscores CSL’s growing leadership in sustainable ship design and advanced marine technologies. Once the detailed agreement is finalised, further information on production schedules, design specifics, and delivery timelines will be announced.

Stock Market Performance

As of 14:20, the share price of Cochin Shipyard Limited was trading at ₹1,793.50, up 11.00 or 0.62% from its previous close of ₹1,782.50. The stock opened at ₹1,782.90 and moved between ₹1,776.00 and ₹1,802.00 during the session. Over the past three years, Cochin Shipyard shares have surged 564%, and nearly 20% in the past year, reflecting strong investor confidence in the company’s robust order pipeline and focus on sustainable shipbuilding and innovation.

REF: https://nsearchives.nseindia.com/corporate/Aswi4739_31102025112315_SEIntimation31_10_2025Svitzer.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations