Cochin Shipyard Limited-built Mangrol, the Indian Navy's third anti-submarine warfare shallow water craft with over 80 per cent indigenous content, was commissioned by the Indian Navy to strengthen coastal submarine detection, surveillance and mine warfare capabilities.

Cochin Shipyard Ltd lost the Rs 1,897 crore Medium Range product tanker tender floated by Shipping Corporation of India Ltd after quoting about $4 million more per vessel than Swan Defence and Heavy Industries Ltd, which quoted about $48.9 million per vessel.

Cochin Shipyard Limited's proposed block fabrication facility joint venture in Kochi saw partner HD Korea Shipbuilding & Offshore Engineering halt its review in August, though the two companies will continue technical cooperation.

Cochin Shipyard Limited plans to invest around Rs 3,000-4,000 crore in a steel block fabrication facility at Vallarpadam in Kochi and is exploring a Rs 1,500-2,000 crore shipbuilding and repair unit at V O Chidambaranar Port in Thoothukudi to expand capacity for larger vessels. The company also reported a Rs 22,300 crore order book and said it has emerged L1 for five Indian Navy survey vessels worth about Rs 5,000 crore.

Cochin Shipyard Limited has received orders to build more than 40 ships for buyers in the US, Germany, Norway and other countries, as announced by Shipping Minister Sarbananda Sonowal. The minister said most of India's foreign shipbuilding orders are going to Cochin Shipyard, reflecting growing global confidence in Indian shipbuilders' quality and capacity.