Drydocks World and Cochin Shipyard Form Joint Venture to Expand International Ship Repair Facility in Cochin
Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) have recently signed a joint venture agreement to operate and expand the International Ship Repair Facility (ISRF) in Cochin. The agreement, signed during the BRICS Summit 2026 in New Delhi, was attended by Shri Sarbananda Sonowal, Hon’ble Union Minister of Ports, Shipping and Waterways, and H.E. Omran Sharaf Alhashimi, UAE Assistant Foreign Minister for Advanced Science and Technology.
Expanding Opportunities in Ship Repair Sector
This agreement is an extension of the Memorandum of Understanding (MoU) signed by Drydocks World and CSL during India Maritime Week 2025. The initial MoU aimed to explore collaboration opportunities in ship repair and allied maritime services. The new joint venture, established as a 50:50 partnership, marks a significant milestone in India’s ship repair sector as a unique public-private partnership.
Enhancing Maritime Services Hub in Cochin
The joint venture aims to operate, consolidate, and expand the ISRF in Cochin, thereby increasing capacity to cater to a broader range of vessels and meet the escalating demands of Indian, regional, and international clients. This partnership is expected to elevate Cochin’s status as a maritime services hub, creating opportunities in ship repair, engineering, fabrication, and associated maritime services in Kerala.
Captain Rado Antolovic, CEO of Drydocks World, emphasized the importance of this partnership for India’s ship repair industry. He highlighted the collaboration’s potential to combine local expertise and skilled workforce of Cochin Shipyard with the global capabilities and technology of Drydocks World, resulting in a world-class ship repair offering. Similarly, Mr. Jose V J, Chairman and Managing Director of Cochin Shipyard Ltd., expressed optimism about the venture, stating that it signifies India’s progression towards becoming a global ship repair hub.
The partnership leverages CSL’s established shipbuilding and repair capabilities, engineering expertise, and skilled workforce alongside Drydocks World’s global experience in vessel repair, maintenance, conversions, and offshore engineering. The strategic location of the ISRF facility in Cochin, equipped with state-of-the-art ship lift systems and modern docking facilities, positions it as a key player along major international shipping routes.
In conclusion, the joint venture between Drydocks World and Cochin Shipyard is poised to revolutionize the ship repair sector in India, setting new standards for quality, safety, and efficiency. The collaboration not only aims to enhance business operations but also to attract international fleets, generate high-skilled employment opportunities, and contribute towards the vision of Maritime India 2030 and Amrit Kaal 2047.
