Cochin Shipyard has joined hands with Drydocks World to boost India’s ship repair industry. This partnership is backed by the Ministry of Ports, Shipping, and Waterways and aims to improve the country’s ship repair facilities by bringing together the technical know-how of both companies.
The collaboration will bring in global best practices, increase ship repair capacity, and support long-term goals like the Maritime India Vision 2030 and AmritKaal Vision 2047.
The two companies will look at developing top-quality ship repair hubs in Kochi (Kerala) and Vadinar (Gujarat). These hubs will offer advanced ship maintenance and repair services. They also plan to work closely with government bodies and major ports to upgrade ship repair and offshore construction capabilities.
Besides ship repair, the partnership will also explore projects in offshore construction, marine engineering, and other important infrastructure works.
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Cochin Shipyard is known for building and repairing ships. As of 31 December 2024, the Government of India owned 67.91% of the company.
However, the company reported a 27.6% drop in net profit in Q3 FY25, earning Rs 176.99 crore compared to Rs 244.38 crore in the same period last year. On the positive side, revenue from operations went up by 8.6% to Rs 1,147.64 crore.
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Following this update, Cochin Shipyard’s share price fell by 2.23% to Rs 1,348 on the BSE.
