Adani Ports and Special Economic Zone Ltd (APSEZ) has placed an order for eight advanced harbour tugs, to be built by Cochin Shipyard Ltd. The total value of the contract is estimated at Rs 450 crore. The tugs are expected to be delivered between December 2026 and May 2028. This move supports the Make in India and Aatmanirbhar Bharat initiatives by promoting local manufacturing and strengthening India’s maritime capabilities.
Ashwani Gupta, Whole-time Director & CEO of APSEZ, emphasized, “This collaboration with Cochin Shipyard Ltd reflects our commitment to enhancing India’s maritime infrastructure. By utilizing world-class local manufacturing, we are contributing to the ‘Make in India’ initiative while ensuring our operations meet the highest global standards of safety and efficiency.”
Previously, APSEZ had contracted Cochin Shipyard to build two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs for Ocean Sparkle Ltd, both of which were delivered ahead of schedule and are now operational at Paradeep Port and New Mangalore Port. Three additional ASD tugs are currently under construction, bringing the total order to 13 tugs.
In its fiscal second-quarter earnings for 2024, APSEZ reported a profit of Rs 2,445 crore, marking a 40% year-on-year increase from Rs 1,748 crore in the same period last year. The company also posted a 6% rise in revenue, reaching Rs 7,067 crore compared to Rs 6,646 crore in Q2FY24.
Adani Ports and Special Economic Zone Ltd (APSEZ) is India’s largest private port operator and an integral part of the Adani Group, a diversified conglomerate. With a presence across 13 strategically located ports and terminals, APSEZ handles a substantial share of India’s cargo movement, contributing to the nation’s trade and economic growth.
The company’s facilities, including Mundra Port, the largest commercial port in India, are equipped to manage diverse cargo types, from containers to bulk and liquid shipments. APSEZ also operates integrated logistics services, enhancing supply chain efficiency for its customers.
Focused on sustainable development, APSEZ incorporates green practices across its operations and aligns with the government’s initiatives such as Make in India. By investing in cutting-edge technology and expanding globally, the company continues to strengthen its leadership position in the maritime and logistics sectors.
