Cochin Shipyard & Maersk MoU: Cochin Shipyard Limited, a major Indian shipbuilding company, announced on Monday, February 17 that it has signed an agreement with A.P. Moller–Maersk. This agreement, known as a Memorandum of Understanding (MoU), will allow both companies to work together on ship repair, maintenance, and construction in India. The state-owned company made this announcement through an official statement filed with the Bombay Stock Exchange (BSE).
“Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MoU) with A.P. Moller–Maersk. Through this agreement, we will explore ways to collaborate on ship repair, maintenance, and new shipbuilding projects in India,” said the company in its statement, reported by Mint.
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The agreement will allow both companies to share their technical expertise to improve ship maintenance and repair. They will also work together on dry docking, building new ships, and organizing training programs. These programs will help workers at both Cochin Shipyard and Maersk develop better skills in shipbuilding and maintenance.
On the day of the announcement, Cochin Shipyard’s stock price dropped by 1.65%, closing at ₹1,215.55. In the previous session, the stock had closed at ₹1,235.95. The company revealed this agreement during the afternoon stock market session on February 17.
Despite this drop, Cochin Shipyard’s stock has given investors strong returns over the past five years, increasing by more than 600 percent. Over the last years the stock has gone up by almost 43%. In 2025, the stock price has fallen by 22.41% so far.
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The Indian government is focusing on growing the country’s maritime industry. Finance Minister Nirmala Sitharaman, in her Union Budget 2025-26 announcement shared her plans to create the ₹25,000 crore Maritime Development Fund. This fund aims to help India compete better in the global maritime sector.
“The government will contribute 49 percent of the total fund. The remaining amount will come from ports and private companies,” said Nirmala Sitharaman.
She also mentioned that the government will continue to exempt Basic Customs Duty (BCD) on raw materials, components, and other parts needed to build ships for the next ten years. This decision will help Indian shipbuilders reduce costs and compete more effectively with companies from other countries.
