Adani, Cochin Shipyard tie-up to build green tugs
ECONOMY & POLICY

Adani, Cochin Shipyard tie-up to build green tugs

Cochin Shipyard has signed a memorandum of understanding with Adani Group for constructing green tugs after delivering the first of the two tugs ordered by Ocean Sparkle, now owned by Adani Harbour Services. This is the first tug to be built in India under the Approved Standard Tug Design Specifications (ASTDS) issued by the Ministry of Ports, Shipping, and Waterways (MoPSW) for promoting the shipbuilding industry under the Atmanirbhar Bharat initiative.

The 62-tonne bollard pull Azimuth Stern Drive (ASD) tugs, designed by Canada?s Robert Allan Ltd, a top global tug designer, are primarily intended for harbour towing and ship assist in Indian ports with firefighting and coastal towing as secondary roles.

Ocean Sparkle ordered two 62-tonne bollard pull tugs at Udupi-Cochin Shipyard, a unit of Cochin Shipyard Ltd, after the Ministry issued standard operating procedures in 2020 for charter/procurement of tugs by state-owned major ports under the Atmanirbhar Bharat initiative.

In April 2022, Adani Harbour Services acquired Ocean Sparkle at an enterprise value of Rs1,700 crore, helping it become the country?s top marine services operator (a key part of port operations). The combined entity now runs about 100 tugs.

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Cochin Shipyard has signed a memorandum of understanding with Adani Group for constructing green tugs after delivering the first of the two tugs ordered by Ocean Sparkle, now owned by Adani Harbour Services. This is the first tug to be built in India under the Approved Standard Tug Design Specifications (ASTDS) issued by the Ministry of Ports, Shipping, and Waterways (MoPSW) for promoting the shipbuilding industry under the Atmanirbhar Bharat initiative. The 62-tonne bollard pull Azimuth Stern Drive (ASD) tugs, designed by Canada?s Robert Allan Ltd, a top global tug designer, are primarily intended for harbour towing and ship assist in Indian ports with firefighting and coastal towing as secondary roles. Ocean Sparkle ordered two 62-tonne bollard pull tugs at Udupi-Cochin Shipyard, a unit of Cochin Shipyard Ltd, after the Ministry issued standard operating procedures in 2020 for charter/procurement of tugs by state-owned major ports under the Atmanirbhar Bharat initiative. In April 2022, Adani Harbour Services acquired Ocean Sparkle at an enterprise value of Rs1,700 crore, helping it become the country?s top marine services operator (a key part of port operations). The combined entity now runs about 100 tugs.

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