Cochin Shipyard shares rally over 4% after Norway order win

The overall cost of the 8 vessels project is estimated to be around Rs 1,100 crores and is to be executed within September 2028.

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"We would like to inform that Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of CSL, has entered into contract with Wilson ASA, Norway, for Design and Construction of 4 nos. of 6300 TDW Dry Cargo Vessels. Agreement has also been entered into for additional 4 vessels of the same type which will be formally contracted within September 19, 2024. The overall project of 8 vessels is worth about Rs. 1,100 crores and is to be executed within September 2028," said the company in a filing to the exchanges.

The current project is a follow up order in continuation of the contract awarded in June 2023 for the design and construction of six 3800 TDW Dry Cargo Vessels.

The vessel will be 100 meters in length and has a deadweight of 6300 metric tonnes at a design draft of 6.5 meters.

Shares of Cochin Shipyard have been on a dream rally as the stock has gained more than 3 times (231.5%) in the current calendar year alone while growing nearly 700% in the last 1 year.

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