As per the LoI, Svitzer and Cochin Shipyard will collaborate on plans to build electrical TRAnsverse tugboats at the latter’s yard facilities in India. This signals Svitzer’s long-term intent to Make in India and to bring to market one of the most advanced and environmentally-progressive tug designs to support India’s green port and green towage ambitions, Cochin Shipyard said.
TRAnsverse tugs are known for their exceptional manoeuvrability and efficiency and they provide precise control in confined waters, improving safety and operational performance while reducing energy use and emissions, it added.
The vessels are for Svitzer’s global fleet renewal and growth markets, the company said.”By paring Svitzer’s nearly 200 years of towage experience with Indian engineering and manufacturing strength, we aim to deliver cleaner, safer and more efficient harbour operations for customers in India and around the world,” Svitzer CEO Kasper Nilaus said.
Cochin Shipyard’s chairman and managing director Madhu S Nair said the collaboration will showcase the company’s world-class capabilities, deepen local supply chains and talent and accelerate the availability of green, high-performance tugboats for ports at home and abroad.
Cochin Shipyard shares were trading 0.6% up at ₹1,793 apiece around 11.35 am on Friday. The stock has gained 12.7% in the last six months.
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