Knowledge Marine & Engineering Works announced a ₹279.33 crore green tug contract with the Mumbai Port Authority, sending its shares up 1.9% to ₹2,882 on Monday.
The deal covers a 60‑ton bollard pull, battery‑operated electric tug, along with chartering, operations, maintenance and full technical management. It will be supported by its subsidiary Knowledge Shipyard Ltd, which is already building the company’s other green initiatives.
CEO Sujay Kewalramani said the firm is building a scalable capability around next‑generation marine assets. He added that constructing multiple green tugs on a common shipbuilding platform will standardise processes, boost execution efficiency and deepen technical expertise.
Market‑watchers note the stock is 7.1% higher month‑to‑date and has surged 49.6% this year, outperforming the broader marine infrastructure index. The 1.9% lift on the contract announcement reflects investor confidence in the green‑fleet theme.
Looking ahead, Knowledge Marine plans to launch the third green tug alongside its two earlier vessels, potentially generating incremental revenue of ₹45‑₹50 crore annually once the tug enters service. The company has not yet issued guidance for the next quarter but is poised to benefit from the growing green shipping tailwind in India.