New Delhi: Cochin Shipyard Limited (CSL) has signed a Share Purchase Agreement (SPA) and a Shareholders’ and Cooperation Agreement with the shareholders of Conoship International Holding B.V. (Conoship) to acquire a 23 percent equity stake in the Netherlands-based ship design and engineering company.
The agreements were executed on Thursday, following the approval granted by the CSL Board in January 2026. The proposed acquisition is aimed at strengthening CSL’s presence in the European coastal and short-sea shipping market and expanding its capabilities in advanced ship design and engineering solutions.
Cochin Shipyard to Acquire 23% Stake in Conoship
Under the agreements, CSL will acquire a 23 percent equity stake in Conoship for a cash consideration of €2.30 million.
Key details of the proposed transaction include:
- Acquirer: Cochin Shipyard Limited
- Target: Conoship International Holding B.V.
- Stake to be acquired: 23 percent
- Consideration: €2.30 million
- Transaction approval: CSL Board approval received in January 2026
- Regulatory clearance: Obtained from the Department of Investment and Public Asset Management (DIPAM)
- Expected completion: Within two months
The transaction will be completed after fulfilment of the applicable conditions and other required formalities.
Conoship Provides Ship Design and Engineering Services
Conoship International Holding B.V., incorporated on February 13, 2014, is a Netherlands-based ship design and engineering company.
The company has a portfolio covering several types of vessels, including:
- General cargo vessels
- Tankers
- Dredgers
- Ferries
- Offshore vessels
Conoship provides ship design and engineering services to shipyards worldwide, giving CSL an opportunity to strengthen its international design and engineering capabilities.
CSL and Conoship to Explore European Shipping Opportunities
The proposed acquisition is aimed at helping CSL expand into European coastal and short-sea shipping through advanced ship design solutions.
CSL and Conoship will also jointly explore opportunities in emerging technologies and related maritime sectors.
The areas of potential cooperation include:
- Alternative fuels for short-sea vessels.
- Coastal shipping.
- Inland waterways.
- Marine services.
- Shipping services.
- Offshore services.
The cooperation is expected to support the development of solutions for evolving requirements in the maritime and shipbuilding sectors.
Conoship Records €4 Million Group Turnover in 2024
Conoship reported a group turnover of €4 million in 2024, excluding intercompany adjustments. This compares with €3.51 million in 2023 and €2.4 million in 2022.
The company’s group turnover including intercompany adjustments stood at:
- 2024: €4.95 million
- 2023: €4.54 million
- 2022: €3.13 million
Conoship reported a group net profit of €0.22 million in 2024.
The financial performance provides CSL with an established international ship design and engineering platform as it seeks to expand its presence in European markets.
CSL Strengthens International Shipbuilding Capabilities
The proposed investment in Conoship is part of CSL’s efforts to expand its international footprint and strengthen its capabilities in ship design and engineering.
Through the partnership, the two companies are expected to explore new opportunities in coastal and short-sea shipping, inland waterways and emerging marine technologies, including alternative-fuel solutions.
The collaboration will also provide a platform for exploring opportunities across the broader marine, shipping and offshore sectors.
About Cochin Shipyard Limited
Cochin Shipyard Limited (CSL) is a leading Indian shipbuilding and ship repair company under the Ministry of Ports, Shipping and Waterways, Government of India. Headquartered in Kochi, Kerala, CSL undertakes the construction and repair of a wide range of commercial and defence vessels and has established capabilities in shipbuilding, ship repair and related maritime services.
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