Latest news with #MaritimeIndiaVision
Time of India
4 days ago
- Business
- Time of India
India now ranks third in building general dry cargo vessels for European short sea trade: Sarbananda Sonowal
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India now ranks 3rd in building general dry cargo vessels for the European short sea trade , Union Minister for Ports and Shipping Sarbananda Sonowal announced on Thursday, quoting private minister attributed this feat to Prime Minister Narendra Modi's "bold Maritime Amrit Kaal Vision 2047"."India's shipbuilding ambitions are no longer just on paper, they are taking shape in shipyards and recognised globally," the minister wrote on X, attaching an infographic of strategic reforms to skilling our workforce, every step taken by the Modi Govt is making Make in India, Make for the World a reality. Our rise proves, India means business and the world knows it," the minister supplemented in his X Maritime India Vision (MIV) 2030 provides a comprehensive framework for the holistic development of India's maritime sector, encompassing ports, shipping, and waterways. MIV 2030 outlines 150 initiatives aimed at propelling India to global maritime 10 interconnected themes such as port infrastructure development, enhancing logistics efficiency, improving Indian shipbuilding tonnage, increasing coastal and waterway traffic, fostering technology innovation and policy support, promoting sustainability and global collaboration, address every facet of the maritime ecosystem, ensuring a well-rounded approach to transforming India into a leading maritime status of MIV 2030 gets reflected through the progress made by the Indian Maritime sector over the past 3 years as outlined below:Major Port Capacity increased from 1598 MMTPA in Financial Year 2022 to 1630 MMTPA in Financial Year Vessel Turn Around Time (TAT) reduced from 53 hours in Financial Year 2022 to 48 hours in Financial Year Berth Day Output increased from 16,000 MT in Financial Year 2022 to 18,900 MT in Financial Year the past three years, there has been a 37% increase in the Capital Expenditure to Rs 7,571 crore in Financial Year 2024 (from Rs. 5527 crore in Financial Year 2022) by Ministry of Ports, Shipping and Waterways including a 54 per cent increase in Gross Budget Support (GBS) to Rs 1,687 crore in Financial Year 2024 (from Rs 1,099 crore in Financial Year 2022) which is primarily towards the achievements of goals and targets outlined under MIV the past 3 years, around 75 port development projects have been awarded in Major Ports which includes projects for enhancement of cargo handling capacity and operational efficiency.
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Business Standard
4 days ago
- Business
- Business Standard
Cochin Shipyard soars 13% on heavy volumes; zooms 100% from February low
Share price of Cochin Shipyard today Shares of Cochin Shipyard hit an over nine-month high at ₹2,363.30, soaring 13 per cent on the BSE in Thursday's intra-day trade amid heavy volumes. The stock price of state-owned shipbuilding company was quoting at its highest level since August 12, 2024. It had hit a record high of ₹2,977.10 on July 9, 2024. Cochin Shipyard's stock price has doubled from its 52-week low of ₹1,180.45, which it touched on February 18, 2025. At 02:30 PM; the stock was quoting 11.5 per cent higher at ₹2,328, as compared to 0.44 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined 21.52 million shares representing 8.2 per cent of total equity of Cochin Shipyard changed hands on the NSE and BSE. What's behind Cochin Shipyard's 64% surge in 4 weeks? On May 13, 2025, media reported that HD Hyundai & Cochin Shipyard were in talks for ₹10,000 crore project. On clarification on news report on May 14, 2025, Cochin Shipyard said that the Central and State Governments are working with various stakeholders to promote shipbuilding and ship repair, in line with the Government of India's Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047. Cochin Shipyard is also evaluating strategic possibilities with multiple entities which are at various stages. However, at this stage, there is no material event/ information that require disclosure, the company said. "With respect to the various reports circulating in the media, we would like to clarify that Cochin Shipyard has not issued any statement on the matter. Such reports may be based on threading pieces of information," the company said. On April 8, Drydocks World, a DP World company and a leading service provider for the maritime and offshore oil and gas, and renewable energy industries globally, signed a Memorandum of Understanding (MoU) with Cochin Shipyard, to enable development of Ship repair clusters, synergizing mutual strengths. The MoU also provides for cooperation in potential offshore fabrication opportunities engaging other entities like major ports. This collaboration will explore opportunities to develop ship repair clusters along India's coastline leveraging the expertise of both organizations. This partnership is expected to contribute significantly to the growth of India's maritime sector positioning the country as a global leader, the company said in statement. In February 2025, Cochin Shipyard entered into a MoU with A.P. Moller - Maersk to explore collaboration opportunities in ship repair, maintenance, and shipbuilding in India. This aligns with the Government of India's Vision 2047 maritime objectives and recent Union Budget 2025-26 announcements to position India among the top global maritime hubs. ICICI Securities view on Cochin Shipyard Cochin Shipyard is well positioned to benefit from significant order inflows in both defence and commercial shipbuilding, supported by a strong pipeline. The Indian Navy's plans to acquire warships, including an estimated ₹40,000 crore aircraft carrier, present major opportunity for Cochin Shipyard. Additionally, the brokerage firm believes that the government's strong focus on improving India's maritime infrastructure will create significant opportunities in commercial ship-building across cargo and passenger segments. Government aspires to position India among the world's top five shipbuilding nations (currently India's position stands at 22 with less than 1 per cent share in global ship-building market). Analysts expect Cochin Shipyard to witness significant YoY growth in revenues & profitability over FY24-27E, led by execution pick-up in both the segments and increasing share of margin accretive ship-repair segment. About Cochin Shipyard Cochin Shipyard is one of the leading shipyards in India, located in the southern state of Kerala. The company was founded in 1972 and is owned by the Government of India. The company is primarily engaged in shipbuilding and ship repair, catering to both the domestic and international markets. As at March 31, 2025, the Government of India holds 67.91 per cent of the company's equity share capital.
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Business Standard
15-05-2025
- Business
- Business Standard
Cochin Shipyard hits 7-mth high; up 26% in 1 week; what's behind the rally?
Cochin Shipyard share price today: Share price of Cochin Shipyard hit a seven-month high of ₹1,814.90, surging 7 per cent on the BSE in Thursday's intra-day trade in a subdued market amid heavy volumes. The stock price of the state-owned shipbuilding company is trading higher for the fifth straight day, zooming 26 per cent in one week. In comparison, the BSE Sensex was trading 0.1 per cent lower at 12:15 PM. The index gained 2 per cent in one week. Cochin Shipyard stock price is trading at its highest level since September 24, 2024. It had hit a 52-week high of ₹ 2,977.10 on July 8, 2024. The counter has seen huge trading volumes, with a combined 13.53 million equity shares representing 5 per cent of the total equity of Cochin Shipyard changing hands on the NSE and BSE. What's behind the rally in Cochin Shipyard share? The Central and State Governments are working with various stakeholders to promote shipbuilding and ship repair, in line with the Government of India's Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047. According to media reports, HD Hyundai & Cochin Shipyard is in talks for a ₹10,000-crore project. On clarification on news reports on Wednesday, May 14, 2025, after market hours Cochin Shipyard said that the company is also evaluating strategic possibilities with multiple entities which are at various stages. However, at this stage, there is no material event/ information that requires disclosure, the company said. Meanwhile, in February 2025, Cochin Shipyard has entered into a Memorandum of Understanding (MoU) with A.P. Moller – Maersk to explore collaboration opportunities in ship repair, maintenance, and shipbuilding in India. This aligns with the Government of India's Vision 2047 maritime objectives and recent Union Budget 2025-26 announcements to position India among the top global maritime hubs. ALSO READ | 9MFY25 financial performance For April to December period of the financial year 2024-25 (9MFY25), Cochin Shipyard's revenue is up 20.4 per cent year-on-year (YoY) to ₹3062.3 crore, as ship-repair revenue is up 45.7 per cent YoY while ship-building revenue is up 10.6 per cent YoY. During 9MFY25, execution in the ship-building segment (66 per cent of total) has been moderated (revenue grew 11 per cent YoY) while the execution in ship-repair segment remained strong (revenue grew 46 per cent YoY). With strong order backlog (estimated at ₹22,000 crore; ~5x trailing twelve months revenue) and pick-up in execution, we expect revenue growth to remain healthy in the coming period. ICICI Securities view on Cochin Shipyard The company is well positioned to benefit from significant order inflows in both defence and commercial shipbuilding, supported by a strong pipeline. The Indian Navy's plans to acquire warships, including an estimated ₹40,000 crore aircraft carrier, presents a major opportunity for Cochin Shipyard. Additionally, analysts believe that the government's strong focus on improving India's maritime infrastructure will create significant opportunities in commercial ship-building across cargo and passenger segments. The government aspires to position India among the world's top five shipbuilding nations (currently India's position stands at 22 with less than 1 per cent share in the global ship-building market). ALSO READ | Here's why KRN Heat Exchanger shares are buzzing in trade on May 15 Furthermore, talks have begun with leading shipbuilders from South Korea and Japan to promote collaboration and enhance production capabilities in India. Europe also plans to replace its 2,500 vessels with green vessels, creating substantial demand for exports. The ship repair sector also shows promise, bolstered by the company's capabilities and government support. Recently, the company signed a MoU with AP Moller – Maersk to enhance ship maintenance, explore repair, construction opportunities. However, currently, the stock is trading above the brokerage firm's target price of ₹1,700 per share. About Cochin Shipyard Cochin Shipyard is one of the leading shipyards in India, located in the southern state of Kerala. The company was founded in 1972 and is owned by the Government of India. The Company is primarily engaged in shipbuilding and ship repair, catering to both the domestic and international markets. The company is a 'Miniratna', Schedule-'A', Category-I CPSE, which is also a public limited company incorporated and domiciled in India. As at March 31, 2025, the Government of India holds 67.91 per cent of the Company's equity share capital.
