Cochin Shipyard Ltd. (CSL) has entered into a memorandum of understanding (MoU) with Drydocks World, a DP World company, to jointly develop ship repair clusters across India.
The initiative is supported by the Ministry of Ports, Shipping, and Waterways and aims to enhance India's ship repair capabilities by leveraging the technical expertise of both entities.
The partnership intends to introduce global best practices, expand capacity, and align with the government's Maritime India Vision 2030 and AmritKaal Vision 2047.
Initially, the companies will assess opportunities to establish advanced maintenance and repair facilities in Kochi (Kerala) and Vadinar (Gujarat). They will also engage with government bodies, including major ports, to improve ship repair and offshore fabrication capabilities.
The collaboration will extend to offshore fabrication, marine engineering, and strategic infrastructure projects.
Established in 1972, Cochin Shipyard Ltd (CSL) is the largest shipbuilding and maintenance facility in India, located in Kochi, Kerala. It operates as a Government of India company and holds Miniratna status. CSL is involved in shipbuilding and ship repair, with capabilities to build vessels up to 110,000 deadweight tonnage (DWT) and repair vessels up to 125,000 DWT. As of December 31, 2024, the Government of India held 67.91% of the total voting rights in Cochin Shipyard. The company reported a consolidated net profit of Rs 176.99 crore in Q3 FY25, a decrease of 27.6% compared to Rs 244.38 crore in Q3 FY24. Revenue from operations increased by 8.6% year-over-year to Rs 1,147.64 crore in the quarter ending December 31, 2024.
Established in 1983 by royal decree and later becoming part of DP World in 2018, Drydocks World is a leading marine and offshore service provider based in Dubai, UAE. Drydocks World undertakes over 300 marine and offshore projects annually, specializing in ship repair, maintenance, upgrades, conversions, and the construction of offshore fabrications. Its facilities in Dubai cover nearly one million square meters and include three graving docks, a floating dock, and over 3,700 meters of berth space, making it the largest ship repair facility in the Middle East. The company has completed over 9,000 ship repair, maintenance, and upgrade projects.