Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of Cochin Shipyard Limited (CSL), has secured a significant international contract from Wilson ASA, Norway. The contract is for the design and construction of four 6300 TDW Dry Cargo Vessels. This order follows a previous contract awarded in June 2023 for six 3800 TDW Dry Cargo Vessels, which are currently in advanced stages of construction at UCSL’s Udupi yard in Karnataka.

Details of the New Contract

The new vessels will be designed by Conoship International, Netherlands, and will feature environmentally friendly diesel-electric propulsion systems. These vessels are intended for transporting general cargo in European coastal waters. Each vessel will measure 100 meters in length and will have a deadweight of 6300 metric tonnes at a design draft of 6.5 meters.

Financial and Strategic Impact

The total value of the project, including the initial six vessels, is approximately Rs 1,100 crores, with completion expected by September 2028. The announcement of this new contract led to a significant rise in Cochin Shipyard’s stock price, which surged by 4.40% to reach an intraday high of Rs 2,310.15 per share. This uptick reflects investor confidence in CSL’s growing capabilities and the strategic importance of the new orders.

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Wilson ASA and Its Fleet

Wilson ASA, headquartered in Bergen, Norway, is Europe’s leading short sea fleet operator. The company transports around 15 million tonnes of dry cargo annually across the continent using a fleet of approximately 130 vessels, ranging from 1500 to 8500 DWT. The new order from Wilson ASA underscores their trust in UCSL’s expertise and ability to deliver high-quality vessels on schedule.

Previous Achievements and Future Plans

Since being acquired by Cochin Shipyard Limited, UCSL has made significant strides in shipbuilding. The shipyard delivered two 62T Bollard Pull Tugs to Ocean Sparkle Limited and one 70T Bollard Pull Tug to Polestar Maritime Limited. These tugs were constructed according to the Approved Standard Tug Design and Specifications (ASTDS) mandated by the Indian government under the Aatmanirbhar Bharat initiative. This initiative aims to boost self-reliance in various sectors, including shipbuilding.

In addition to the new dry cargo vessels, UCSL has secured further orders for four 70T Bollard Pull Tugs, with three from Ocean Sparkle Limited and one from Polestar Maritime Limited. These contracts highlight UCSL’s growing reputation and capabilities in the shipbuilding industry.

Future Prospects

The success of UCSL in securing these international contracts positions it as a key player in the global shipbuilding industry. The collaboration with Conoship International for vessel design and the adoption of environmentally friendly technologies reflect UCSL’s commitment to innovation and sustainability. As the company continues to execute these significant projects, it will further enhance its technical expertise and market presence.