Cochin Shipyard Signs LoI with Svitzer to Build Advanced Electric TRAnsverse Tugs

Cochin Shipyard Limited (CSL) has signed a landmark Letter of Intent (LoI) with Svitzer, Denmark, to build a new generation of electric TRAnsverse tugs in India. 

The agreement, announced on October 30, 2025, during India Maritime Week 2025 in Mumbai, signifies a major step toward decarbonising global towage operations and positioning India as a leader in sustainable maritime manufacturing.

Details of the LoI and Strategic Vision

The LoI outlines a collaboration between CSL and Svitzer to construct advanced electric TRAnsverse tugboats at CSL’s shipyard facilities in India. The partnership reflects Svitzer’s commitment to its global electrification roadmap and aligns with India’s Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047. 

These electric tugboats are designed to deliver enhanced energy efficiency, safety, and operational precision while reducing emissions and promoting green port operations.

Advancing Green Maritime Manufacturing

This collaboration will leverage Svitzer’s 200 years of global towage expertise and CSL’s proven shipbuilding capabilities to develop and build electric TRAnsverse tugs that support India’s green port ambitions. 

The project reinforces India’s position as a maritime manufacturing hub and aims to accelerate the adoption of cleaner, more efficient harbour operations worldwide. CSL’s role in constructing these vessels underlines its commitment to sustainability and technological excellence in shipbuilding.

Read More:Indian Navy Receives First of Eight 'Mahe' Warships from Cochin Shipyard!

About the TRAnsverse Tug Concept

The TRAnsverse tug is known for its superior manoeuvrability and energy efficiency. Designed for confined harbour spaces, it enables safer, more precise control while minimising fuel consumption and emissions. These features make the TRAnsverse tug an essential addition to modern port infrastructure. 

The electric version to be built in India will cater not only to Svitzer’s global fleet renewal but also to domestic port operations, showcasing India’s capability to deliver world-class, sustainable maritime technology.

Statements from Leadership

As per the exchange filings, Kasper Nilaus, CEO of Svitzer, stated that the partnership with CSL marks a “decisive step” in Svitzer’s electrification journey, highlighting India’s strong shipbuilding ecosystem and CSL’s track record as key enablers. He noted that the collaboration supports India’s long-term maritime goals and aims to create cleaner and more efficient harbour operations globally.

Madhu S Nair, Chairman and Managing Director of CSL, expressed enthusiasm about building the next-generation TRAnsverse tugs in India, emphasising that the partnership will strengthen local supply chains, enhance engineering capabilities, and accelerate the deployment of green tugboats for both Indian and international ports.

Cochin Shipyard Share Price Performance

On October 31, 2025, Cochin Shipyard share price opened at ₹1,782.90 on NSE, above the previous close of ₹1,782.50. During the day, it surged to ₹1,798.00 and dipped to ₹1,776.00. The stock is trading at ₹1,794.40 as of 11:33 AM. The stock registered a moderate gain of 0.67%.

Over the past week, it has declined by 1.42%, over the past month, it has declined by 3.61%, and over the past 3 months, it has moved up by 1.47%.

Conclusion

The LoI between Cochin Shipyard and Svitzer represents a pivotal advancement for India’s maritime sector. By focusing on electric TRAnsverse tug construction, this collaboration not only supports the decarbonisation of global port operations but also highlights India’s growing role in sustainable shipbuilding innovation.

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