Cochin Shipyard inks pact with Korea's KSOE to boost maritime cooperation

The MoU focuses on cooperation in several key areas, including joint exploration of new building opportunities in India and overseas, sharing of technical expertise, upskilling of the workforce, etc

Cochin Shipyard Limited (CSL) on Friday announced that it has entered into a memorandum of understanding (MoU) with South Korean shipbuilder HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (KSOE) to collaborate across various areas of shipbuilding and maritime development.

 

The agreement aims to establish long-term cooperation between the two companies, the public sector undertaking (PSU) said in an exchange filing.

 

According to CSL, the MoU outlines cooperation in several key areas, including joint exploration of new building opportunities in India and overseas, sharing of technical expertise, and identifying ways to improve productivity and capacity utilisation. The two companies will also work together to upskill their workforce and explore further collaboration in shipbuilding-related projects.

 

 

KSOE is one of the world’s major shipbuilding and marine engineering firms and manages the operations of Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries, CSL said.

 

Commenting on the partnership, CSL said: “This MoU, under which the two companies will pursue strategic cooperation across a range of areas, aligns with the Government of India’s vision to develop the country into a global maritime hub under the ‘Maritime India Vision 2030’ and the ‘Maritime Amrit Kaal Vision 2047’". 

 

Cochin Shipyard Q4 results

 

In the fourth quarter of the financial year 2024–25, Cochin Shipyard reported a net profit of ₹287.18 crore, marking a 10 per cent year-on-year jump from ₹258.88 crore in the corresponding quarter of the previous financial year.

 

The shipbuilder's revenue from operations grew by 36.6 per cent YoY to ₹1,757.65 crore in the fourth quarter of FY25, compared to ₹1,286.04 crore in Q4 FY24.

 

Shares of Cochin Shipyard last traded at ₹2,057.25 apiece on the BSE at the closing of the markets on Friday.