Cochin Shipyard and Drydocks World sign agreement for new Indian ship repair clusters
DP World is joining in with the Indian ship repair bonanza (Source: Cochin)
Cochin Shipyard Ltd has signed a memorandum of understanding (MoU) with Drydocks World, part of DP World, to work together in the development of advanced ship repair and maintenance hubs in India.
The agreement, signed during the ‘CEO Connect: Dubai-India Economic Ties’ event in Mumbai, was witnessed by senior leaders including H.H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum and Shri Piyush Goyal.
The two companies will assess opportunities at Kochi in Kerala and Vadinar in Gujarat, aiming to strengthen India’s ship repair capabilities by combining local expertise with global best practices. A press release described the partnership as key to expanding capacity, creating jobs, and reinforcing India’s status in the maritime sector.
Drydocks World announced the partnership on LinkedIn, citing pride in working with Cochin Shipyard and commitment to India’s Atmanirbhar Bharat initiative. Cochin Shipyard echoed these sentiments, emphasising the collaboration’s potential for economic growth and job creation.
The Indian Government holds a 67.91% stake in Cochin Shipyard. Despite a 27.6% year-on-year decline in Q3 FY25 net profit to ₹176.99 crore, the company’s revenue rose by 8.6% to ₹1,147.64 crore (USD 158.3 million). Shares fell by 2.23% to ₹1,348 (USD 15.83) following the earnings report.
