Cochin Shipyard Ltd (CSL) has agreed to acquire a 23 per cent stake in Netherlands-based ship design and engineering company Conoship International Holding B.V., marking the state-owned shipbuilder’s first cross-border acquisition.
The move is aimed at strengthening CSL’s presence in the European coastal and short-sea shipping market by leveraging advanced ship design capabilities. The company said its board has approved the transaction, with the acquisition price to be finalised at the time of signing definitive agreements, expected within the next six months.
The deal is subject to approvals from the Ministry of Ports, Shipping and Waterways and the Department of Investment and Public Asset Management (DIPAM).
As part of the strategic collaboration, Cochin Shipyard and Conoship will jointly explore opportunities in emerging technologies, including alternate fuels, for short-sea vessels, coastal shipping, inland waterways and allied marine, shipping and offshore services.
Conoship has a diverse portfolio of ship designs ranging from general cargo vessels, tankers and dredgers to ferries and offshore vessels, and provides ship design and engineering services to shipyards across the globe.
JV with HBL Engineering for Electric Marine Technologies
In a separate development, Cochin Shipyard’s board has also approved the formation of a joint venture with Hyderabad-based HBL Engineering Ltd to develop electric mobility technologies and energy storage solutions for the marine sector.
Under the proposed JV, HBL Engineering will hold a 60 per cent stake, while Cochin Shipyard will own the remaining equity. CSL’s investment will be determined at the time of signing definitive agreements.
The joint venture will combine the complementary strengths of both partners to develop indigenous marine technologies for domestic and global markets, in line with the government’s ‘Atmanirbhar Bharat’ initiative.
The collaboration is expected to capitalise on the growing adoption of electric and hybrid propulsion systems in the marine sector, amid rising global focus on sustainable and environmentally friendly marine technologies, the company said.
