Adani Ports Orders Eight Tug Boats from Cochin Shipyard in ₹450 Crore Deal

                                                     

Adani Ports and SEZ, through its subsidiary Ocean Sparkle Limited, has placed an order for eight tug boats with Cochin Shipyard Ltd (CSL). The deal, valued at approximately ₹450 crore, falls into the “Significant” category, as defined by BSE for contracts between ₹200 and ₹500 crore.

 

The order includes eight 70 T Bollard Pull ASD (Azimuthing Stern Drive) tugs, which will be delivered by Udupi Cochin Shipyard Limited, a wholly-owned subsidiary of CSL. The first deliveries are set to begin in December 2026, with the completion of the order expected by August 2028. This move aligns with Adani's expansion plans within the Indian maritime sector.

 

Ashwani Gupta, CEO of Adani Ports and SEZ, expressed the importance of this collaboration, stating, "This order demonstrates our commitment to enhancing maritime infrastructure in India and our confidence in the capabilities of our PSUs. By leveraging world-class local manufacturing, we are contributing to the ‘Make in India’ initiative while ensuring our operations meet international safety and efficiency standards."

 

In market reactions, Adani Ports shares fell by 1.06%, closing at ₹1,230.75, while Cochin Shipyard shares rose by 5%, reaching ₹1,532.10. This new order adds to the three similar tug boats currently under construction for the Adani Group at Udupi CSL, increasing Adani's tug fleet to 152 upon completion.