Shipbuilding Order Win

Udupi-CSL Secures Notable Order for Four ASD Tugs from Ocean Sparkle

NSE

cochinship

BSE

540678

Udupi Cochin Shipyard Limited (Udupi-CSL), a wholly owned subsidiary of Cochin Shipyard Limited, secured a “Notable” domestic order from Ocean Sparkle Limited for construction of four 70T Bollard Pull ASD Tugs.

PRICE-SENSITIVE TRIGGER

Event: Award of domestic tug construction order

Type: Shipbuilding Order Win

Impact: Positive

Immediate Effect: The order strengthens Cochin Shipyard’s order book and reinforces its presence in specialized harbor and marine vessel construction

Key Metrics:

Order Classification: Notable
Estimated Order Value Range: ₹100 crore – ₹250 crore
Number of Vessels: 4 ASD Tugs
Tug Capacity: 70T Bollard Pull
Delivery Schedule Start: November 2028
Delivery Completion Timeline: June 2029

Highlight:

Udupi-CSL secured order from Ocean Sparkle Limited.
Order involves construction of four ASD tugs.
Tug design aligned with Ministry-approved standards.
Order categorized as “Notable” by company classification.

What Happened ?

Cochin Shipyard Limited informed that its wholly owned subsidiary, Udupi Cochin Shipyard Limited (Udupi-CSL), secured a domestic order from Ocean Sparkle Limited, an Adani Group company.

The contract involves construction of four ASD (Azimuthing Stern Drive) tugs with 70T bollard pull capacity. These tugs will be built according to the Approved Standard Tug Design and Specifications (ASTDS) issued by the Ministry of Ports, Shipping & Waterways.

Deliveries are scheduled to commence from November 2028 and conclude by June 2029.

key highlights

Order Scope & Execution Timeline:

Order awarded by Ocean Sparkle Limited.
Ocean Sparkle is part of Adani Group.
Contract includes four ASD tugs.
Each tug designed for 70T bollard pull capacity.
Construction to follow ASTDS standards.
Standards issued by Ministry of Ports, Shipping & Waterways.
Deliveries to begin from November 2028.
Final deliveries expected by June 2029.
Order classified as “Notable” under company order framework.
No related party involvement disclosed.

Note:

ASD tugs are specialized harbor vessels widely used for maneuvering and assisting large ships at ports and terminals.

Risk Analysis

Key Risks

Long delivery cycle exposes project to cost inflation risks.
Shipbuilding execution delays may affect margins.
Marine equipment supply chain disruptions may impact schedules.
Revenue recognition dependent on project milestones.

Worst Case Scenario

Extended execution delays or margin pressures due to rising material costs could impact profitability from the contract.

Risk Level: Medium

Company Commentary

Udupi-CSL secured domestic tug construction order.
Four ASD tugs to be constructed for Ocean Sparkle.
Construction aligned with approved government specifications.
Deliveries scheduled between November 2028 and June 2029.
Company confirmed no promoter or related party interest in awarding entity.

Official Exchange Filing: Cochin Shipyard Limited