Cochin Shipyard Ltd Bags <span Class='webrupee'>₹</span>550 Cr Order For World's First Zero Emission Feeder Container Vessel

M/s. Samskip Group, which is a global logistics solution provider, has placed an order for the construction of Two Zero Emission Feeder Container Vessels, and they also have the option to build two more vessels. The Norwegian Government's green funding program is promoting emission-free transport solutions by implementing innovative and sustainable future technologies, and this ambitious project falls under its purview.

The total project cost for the firm order is approximate Rs. 550 crore and the first vessel is to be delivered in 28 months and the second to be within 34 months.

These ships can carry about 365 nos of 45-feet long high cube containers and are intended to serve the European Market where sustainable transportation solutions are in high demand, the compliance filing at the Bombay Stock Exchange (BSE) added.

The vessels are anticipated to reduce around 25,000 tons of CO2 annually in zero-emission mode. They will also utilize green shore power when docked at the port of call, enabling them to achieve zero-emission operations. The delivery of the vessels is planned to begin in the third quarter of 2025. The vessels will incorporate a hybrid power system comprising Hydrogen Fuel cells, and for extended endurance, they will have a Diesel Generator backup.

The company mentioned that none of the promoter, promoter group, or group companies have any interest in the entity that awarded the order. Further, the said order also does not fall under the purview of related party transactions.

For more than twenty years, CSL has been involved in the global shipbuilding industry, and it has exported top-of-the-line vessels to various nations, including Norway, the USA, Germany, the Netherlands, Denmark, and the Middle East.

(With inputs from ANI)