Cochin Shipyard’s stock has rallied 27% over the past year, while three- and five-year returns stand at 533% and 762%, reflecting strong long-term performance.
New Delhi: Cochin Shipyard has won shipbuilding orders worth around USD 360 million (₹3,267 crore) from France-based CMA CGM Group to deliver six LNG-powered vessels, pushing the company’s total order book to roughly ₹23,000 crore.
The supply agreement was signed in New Delhi on Wednesday in the presence of Shantanu Thakur, Minister of State for Ports, Shipping and Waterways.
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First delivery by 2029, ships designed in Korea
Cochin Shipyard Chairman and Managing Director Jose V J told PTI that the first vessel is expected within 36 months, by February 2029, followed by two vessels each year thereafter.
The ships will be designed by Korea Maritime Consultants Co., Ltd. (KOMAC) and built at Cochin Shipyard’s Kerala facility. Each LNG-powered containership will have a 1,700-TEU (20-foot container equivalent) capacity and cost around USD 60 million.
A company official said the unexecuted order book has now reached ₹23,000 crore.
Strategic partnership and market impact
A source involved in the deal highlighted that this is the first time CMA CGM has placed vessel orders with an Indian entity, having previously sourced from China and Korea.
Rodolphe Saade, Chairman and CEO of CMA CGM Group, said: "I am pleased to be in India to deepen the strategic partnership, which has linked CMA CGM and India for nearly four decades. Today, we are strengthening our shipbuilding cooperation with Cochin Shipyard through the signing of six LNG-powered container vessels."
On India’s container manufacturing and ship recycling, Saade added: "We are looking to expand our engagement… fully aligned with Prime Minister Modi's Maritime Vision 2047 to position India as a major maritime nation. As corridors such as India–Middle East–Europe Economic Corridor (IMEC) develop, connecting India to the Middle East and Europe, CMA CGM stands ready to contribute to this new phase of global trade."
The announcement comes amid bullish sentiment in the stock market. Cochin Shipyard shares surged over 7% on Tuesday after the Ministry of Defence declared the company as the L1 bidder for building five Next Generation Survey Vessels (NGSV) for the Indian Navy. The stock rose to ₹1,575 on the BSE, reversing four days of losses, with around 22 lakh shares changing hands — well above the one-week average of 5 lakh and one-month average of 10 lakh.
The NGSV project carries a total estimated order value of ₹5,000 crore, with the final contract pending completion of formalities. Analysts note that the stock shows signs of a potential trend reversal, with critical resistance near ₹1,662 and short-term support around ₹1,400. A breakout above ₹1,662 could trigger further gains.
Cochin Shipyard’s stock has rallied 27% over the past year, while three- and five-year returns stand at 533% and 762%, reflecting strong long-term performance.
Headquartered in Marseille, France, CMA CGM operates in 177 countries, offering sea, land, air, and logistics services. Cochin Shipyard, a state-owned entity, is among India’s leading shipbuilding and repair yards.
Published: 18 Feb 2026, 09:18 pm IST
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