Udupi Cochin Shipyard Ltd bags international order for Future Proof 3800T Dry Cargo Vessels for Wilson Shipowning AS

Udupi Cochin Shipyard Limited (UCSL), the wholly owned subsidiary of Cochin Shipyard Limited (CSL), the Premier Shipyard group in India, wins prestigious international order from M/s. Wilson Shipowning AS, Norway, for Design and Construction of 6 Nos. new generation diesel electric 3800 DWT general cargo vessel. The contract is signed with an option for additional 8 vessels.

The "Future proof Dry Cargo Vessel" designed by Conoship International, Netherlands shall be constructed as an Environmental friendly Diesel Electric vessel ready for installation of Wind foil units and battery hybrid systems. These vessels are intended for the transport of general cargo at inland as well as coastal waters of Europe.

Wilson Ship management AS, a company headquartered in Bergen, Norway is the largest short sea fleet in Europe and transports about 15 million tonnes dry cargo across Europe. Wilson Ship management AS, has a fleet of around 130 vessels ranging from 1500 to 8500 DWT. Udupi Cochin Shipyard Limited (UCSL) is also active in the markets for harbour tugs, offshore and fishing vessel segments.

The "Future proof Dry Cargo Vessel" Project is at an approximate cost of Rs. 580 Crores. The first vessel will be delivered by December 2024 and thereafter deliveries will be completed within March 2026.

Chairman & Managing Director of Cochin Shipyard Limited (CSL), who is also the Chairman of UCSL: "This partnership aligns with our core values of sustainability and innovation, and we are excited to contribute to the development of more eco-friendly transportation solutions. We look forward to a successful collaboration with Wilson with the potential for more future orders."

Shares of Cochin Shipyard Limited was last trading in BSE at Rs. 549.10 as compared to the previous close of Rs. 551.15. The total number of shares traded during the day was 21739 in over 1143 trades.

The stock hit an intraday high of Rs. 555.20 and intraday low of 546.00. The net turnover during the day was Rs. 11981878.00.

Source : Equity Bulls

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