Knowledge Marine wins ₹279.33 cr Mumbai Port tug order

Order win: Mumbai Port green tug charter

Knowledge Marine & Engineering Works (KMEW) has secured a confirmed work order valued at ₹279.33 crore from Mumbai Port Authority. The contract is for a 15-year charter of a new battery-operated electric green tug with 60-ton bollard pull capacity. The scope includes manning, operations, maintenance, and complete technical management for the entire tenure.

The order adds to KMEW’s growing presence in marine services linked to ports, including dredging and tug chartering. It also reinforces the company’s stated focus on green maritime initiatives, where long-duration charter contracts can provide visibility on revenue over multiple years. The development is being tracked closely because green tug tenders are emerging across major ports, and KMEW has already won similar contracts.

What the contract covers in practical terms

The Mumbai Port Authority order is structured as a comprehensive service arrangement rather than only a vessel supply contract. KMEW will charter a 60T bollard pull capacity electric tug and will also run the vessel under a full-service model. That means the company is responsible for staffing, day-to-day operations, upkeep, and technical management.

A 15-year tenure typically implies stable utilisation requirements at the port, but the article’s disclosures focus on the contract award and scope rather than utilisation terms. Still, the inclusion of operations and maintenance indicates that KMEW’s execution will span maritime operations, safety, and technical compliance through the contract period.

Stock context: price and the recent rally trigger

The article references a sharp move in KMEW’s stock, linking the rally to a mix of order momentum and improved quarterly profitability. It cites port dredging orders, two 15-year green tug contracts, and a fivefold jump in the June 2026 quarter profit as drivers.

The stock information cited includes a price of ₹2,989.40 with a gain of ₹27.80, and another reference that the current share price is ₹2,991.7. The company is listed as NSE: KMEW and BSE: 543273, with the sector mentioned as ship building.

Earlier dredging order: Deendayal Port (Gujarat)

KMEW’s order flow in the article includes a port dredging assignment won in September 2025. On 9 September 2025, the company won a ₹47.59 crore order from Deendayal Port Authority. The scope was to dredge the approach channel and turning circle at the Ghogha Ro-Ro terminal in Gujarat.

This order is important context because it shows KMEW’s continued participation in dredging and port maintenance work alongside the newer green tug charter segment.

Green tug order history: VOC Port and Visakhapatnam

The article also highlights two large green tug contracts disclosed earlier. In October 2025, it says KMEW secured a ₹385.76 crore, 15-year contract from V.O. Chidambaranar Port Authority to supply, man, and maintain a battery-operated green tug. In November 2025, it won a second 15-year green tug order worth ₹384.33 crore from Visakhapatnam Port Authority.

In another section, the article lists green tug charter values of ₹367.09 crore (VOC Port) and ₹325.71 crore (Visakhapatnam Port) for similar 15-year 60T bollard pull green tug charters. Both sets of figures are presented in the provided text, and they collectively underline the scale and long-tenure nature of the green tug business KMEW is building.

Key numbers table: contracts and disclosures

Order book snapshots mentioned in the text

The article includes multiple order book references, reflecting different reporting points and classifications. It states the company secured its highest order wins of ₹1,075 crore, including two green tug contracts worth ₹650 crore, and holds a total order book of ₹1,400 crore. Elsewhere, it says the order book stands at ₹1,644.89 crore, with key wins including green tug contracts from V.O. Chidambaranar and Visakhapatnam Port Authorities.

Another snapshot says that as of February 2026, KMEW’s order book stands at ₹1,500 crore. This includes ₹409 crore for dredging, ₹863 crore for chartering and green tugs, and ₹230 crore for shipbuilding. The text also notes that the figure excludes an intercompany order book of ₹200 crore placed by Knowledge Marine with Knowledge Shipyard for green tugs and patrol boats.

Policy and market backdrop: push for green tugs

The article frames KMEW’s green tug push within a broader decarbonisation trend. It states that India has mandated converting 50% of all tugs to green tugs by 2030 and achieving 100% green maritime operations by 2047. Management is also cited as estimating a domestic requirement of over 120 green tugs.

KMEW is described as working with specialized designers to develop eco-friendly tugs and actively bidding for green tug contracts at major Indian ports, including Paradip, Cochin, Mumbai, and Kolkata. The text also mentions that each green tug costs approximately ₹90 crore to construct and that the builds benefit from a 20% shipbuilding subsidy.

Capex and capacity: shipyard expansion plan

To meet anticipated demand, the article says KMEW is investing nearly ₹100 crore to scale up its shipyard infrastructure. This is positioned as a response to the expected growth in green tug requirements and upcoming tenders.

By combining shipbuilding capability with long-tenure charter contracts, KMEW is attempting to build a pipeline that includes construction, deployment, and operational management. The model, as described, also aligns with the company’s expanding order mix across dredging, chartering, and shipbuilding.

Why the Mumbai Port order matters

The Mumbai Port Authority order adds another long-duration green tug charter to KMEW’s disclosed set of wins. It also strengthens the company’s positioning at a time when multiple ports are moving toward battery-operated tugs and structured service contracts that bundle operations and maintenance.

The article’s broader context connects this order momentum with investor attention on the company’s order book and the June 2026 quarter profit jump. Next milestones, based on the text, would likely be further tender outcomes at major ports where KMEW is said to be participating, including Mumbai itself.