Cochin Shipyard Limited’s board has cleared two moves aimed at strengthening its technology base and widening market reach: a proposed 23% stake acquisition in Netherlands-based ship design and engineering firm Conoship International, and a new joint venture with Hyderabad-based HBL Engineering Limited focused on electric mobility and energy storage for maritime use.
For the Conoship transaction, the final acquisition price will be set when definitive agreements are signed. The agreements are expected within the next six months. The deal also requires approvals from India’s Ministry of Ports, Shipping and Waterways and the Department of Investment and Public Asset Management (DIPAM).
The investment in Conoship International is positioned as Cochin Shipyard Limited’s first cross-border acquisition. The objective is to enhance its presence in the European coastal and short-sea shipping market by drawing on advanced ship design capabilities.
Under the planned collaboration, the two parties will evaluate opportunities in emerging technologies, including alternative fuels for short-sea vessels, coastal shipping, inland waterways, and related marine and offshore services. Conoship International’s design portfolio spans general cargo vessels, tankers, dredgers, ferries, and offshore vessels, with ship design and engineering services delivered to global clients.
Separately, Cochin Shipyard Limited has approved a joint venture with HBL Engineering Limited to develop electric mobility technologies and energy storage solutions for the maritime sector. HBL Engineering Limited will hold 60% in the joint venture, while Cochin Shipyard Limited will hold the remaining equity. Investment details will be finalized when definitive agreements are executed.
The partners said the cooperation is intended to combine strengths to develop indigenous marine technologies for domestic and global markets, aligned with India’s ‘Atmanirbhar Bharat’ initiative. The joint venture is also tied to the growing adoption of electric and hybrid propulsion systems as the maritime sector responds to increased focus on sustainable and environmentally friendly marine technologies.
