Knowledge Marine Secures Contract Worth ₹96.25 Crore for 60-Ton ASD Tug at V.O. Chidambaranar Port

On December 6, 2024, Knowledge Marine & Engineering Works Ltd. (KMEW), a key player in marine engineering, announced a milestone achievement—winning a ₹96.25 crore contract to supply a 60-ton Bollard Pull Azimuth Stern Drive (ASD) Tug for V.O. Chidambaranar Port. However, on the same day, the company’s share price declined by 3.1% on the National Stock Exchange (NSE), raising questions among market participants.

Details of the Contract

The contract involves the supply, manning, operation, and maintenance of the ASD tug over a period of seven years. These high-capacity tugs play a vital role in controlling and manoeuvring large vessels in confined port spaces, ensuring safe berthing and unberthing operations. This is KMEW’s first contract for a 60-ton bollard pull ASD tug, marking a significant expansion in its operational capabilities.

Strengthening Southern Presence

This project is not KMEW’s first engagement with V.O. Chidambaranar Port. The company is already executing a high-speed patrol boat contract for the same port. The back-to-back wins at this southern port demonstrate KMEW’s increasing foothold in the region, enhancing its reputation for delivering critical maritime services.

Industry Implications

The addition of a high-capacity tug to its portfolio positions KMEW as a qualified contender for similar projects across the port sector, where the demand for such tugs exceeds 100 units.

About Knowledge Marine & Engineering Works

Incorporated in 2015, KMEW specialises in owning and operating marine crafts, dredging services, and maintenance of marine infrastructure. With a robust order book from clients such as Kolkata Port Trust, Deendayal Port Trust, and the Ministry of External Affairs, the company continues to establish itself as a leader in its niche.

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