Cochin Shipyard Limited has emerged as the lowest bidder for a ₹5,000 crore contract to construct five Next Generation Survey Vessels for the Indian Navy. This status was confirmed in a Ministry of Defence meeting in New Delhi, with contract finalization pending necessary formalities. The shipyard insists there are no related party transactions involved.
Seatrium has initiated arbitration against a Maersk Offshore Wind affiliate, escalating a dispute over the termination of a contract for a wind turbine installation vessel for the Empire Wind 1 project. This follows a termination notice from the buyer after Seatrium announced the vessel’s readiness for delivery by January 2026.
Cochin Shipyard Ltd (CSL) has secured a ₹200 crore contract from Oil & Natural Gas Corporation (ONGC) for the repair and maintenance of a jack-up rig, set for completion within 12 months. This deal emphasizes transparency, as CSL’s promoters hold no stake in ONGC, enhancing trust in the agreement.
V.Ships Leisure has secured a five-year ship management contract with Marella Cruises, managing five cruise ships starting in late 2025. This partnership will enhance local expertise in the UK and utilize V.’s ShipSure platform for efficient fleet management. The collaboration emphasizes sustainability and digital innovation in cruise operations.
NYK has signed a contract to build and charter a cutting-edge VLCC with a methanol-powered main engine, aiming for lower carbon emissions. Partnering with Idemitsu Tanker and Nippon Shipyard, this environmentally friendly vessel meets Malacca Max standards. NYK’s commitment to sustainability includes using green methanol and renewable energy sources for emission reductions.
Maritime labour unions in Argentina have halted port activities for 48 hours due to a contract dispute with the Tugboat Owners Chamber. The United Maritime Workers Union expressed frustration with the lack of negotiations, leading to the temporary work stoppage. The impact on the maritime industry remains uncertain, emphasizing the need for a resolution to ensure smooth operations.
