breaking news Cochin Shipyard wins Rs 550 Crore order for zero-emission container ships from Samskip Group
These vessels, which have been ordered, can carry nearly 365 high cube containers 45 feet long and are intended to serve the European market.
Defense PSU Cochin Shipyard Ltd. has won an order worth Rs 550 crore from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, for the construction of two zero-emission container ships.
NAVSHUTTLE 1 and 2 are part of the Samskip Group, headquartered in the Netherlands.
The first vessel is to be delivered in 28 months, while the second will be delivered within 34 months, according to the company’s statement.
These vessels, which have been ordered, can carry nearly 365 high cube containers 45 feet long and are intended to serve the European market where the demand for sustainable transport solutions is high.
Feeder Container ships are medium-sized vessels, which can carry between 300 and 1,000 containers on average. These vessels mainly collect shipping containers from different ports and transport them to central container terminals or shipping hubs. It acts as a service between small ports and large ones.
These container ships are up to 3,000 TEU (twenty foot equivalent) – one unit of cargo capacity.
In an interaction with CNBC-TV18 Last year, after the commissioning of the INS Vikrant, which was built by the Cochin shipyard, the company’s CMD Madhu Nair said that the total order book for the defense segment shrunk. stood at Rs 10,000 crore.
After a strong 2022, shares of Cochin Shipyard are down more than 16% so far this year. Despite the correction, the stock is still up 50% over a 12-month period.