Cochin Shipyard inks MoU with Drydocks World to build ship repair clusters

Cochin Shipyard said that it has signed a memorandum of understanding (MoU) with Drydocks World, a DP World company, to jointly develop ship repair clusters in India.

The collaboration, driven by the Ministry of Ports, Shipping, and Waterways, aims to enhance Indias ship repair ecosystem by combining the technical expertise of Cochin Shipyard and Drydocks World.

The partnership is expected to bring global best practices, increase capacity, and support the governments Maritime India Vision 2030 and AmritKaal Vision 2047.

The companies will jointly evaluate opportunities to develop world-class ship repair clusters in Kochi (Kerala) and Vadinar (Gujarat) for advanced maintenance and repair facilities. They will also engage with government entities, including major ports, to enhance ship repair and offshore fabrication capabilities.

Additionally, the collaboration will expand into related areas such as offshore fabrication, marine engineering, and strategic infrastructure projects.

Cochin Shipyard is engaged in shipbuilding & ship repair. As of 31 December 2024, the Government of India held 67.91% total voting rights in the company.

The companys consolidated net profit fell 27.6% to Rs 176.99 crore in Q3 FY25 as against Rs 244.38 crore posted in Q3 FY24. Revenue from operations rose 8.6% YoY to Rs 1,147.64 crore in the quarter ended 31 December 2024.

Shares of Cochin Shipyard declined 2.23% to Rs 1,348 on the BSE.

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