Chowgule and Company - Shipbuilding Division

What Chowgule and Company - Shipbuilding Division does

Chowgule and Company - Shipbuilding Division (Chowgule SBD) is the shipbuilding and energy engineering arm of the privately held Chowgule Group, established in 1916, with shipbuilding operations dating to 1953 and formal shipyard launch in 1968 at Sirigao, Goa. The division operates four purpose-built shipyards in India — Mangaluru (200,000 sqm), Loutulim (42,000 sqm), Rassaim I (15,000 sqm), and Rassaim II (18,650 sqm, including a dedicated climate-controlled aluminum construction facility) — supported by a 16,300 sqm steel and pipe fabrication works at Gadegally and a 29,100 sqm warehouse at Verna. It has delivered 175+ vessels across diverse classes and currently ranks globally No. 1 for European general dry cargo ships by DWT on order (235,050 DWT), with 63 international projects delivered or in the order book.

The company runs three integrated business lines: Commercial Shipbuilding (multipurpose vessels, bulk carriers, tugs, dredges, hybrid and diesel-electric cargo vessels for European owners such as Vertom BV, Boomsma Shipping, AtoB@C, Wijnne Barends, Hagland, Leonhardt & Blumberg, Navigia, JR Shipping, and Flinter); Defence Shipbuilding (OPV hulls for Goa Shipyard to supply the Indian Coast Guard, mega blocks for Mazagon Dock Shipbuilders, and direct work for the Indian Navy); and Energy EPC (offshore platform construction, rig repairs, and LSTK maintenance contracts at the Mangaluru Yard, developed since 2021 with ONGC construction approvals covering oil and gas and offshore wind). Revenue is project-based under one-time construction contracts and professional-services LSTK agreements, with no public pricing and no distribution intermediaries.

Go-to-market is direct enterprise field sales with long-cycle customer engagement spanning decades, operating from offices in Goa (HQ), Mangaluru, Mumbai, and Chennai. The division holds Indian Navy Technical Capacity Assessment certification (June 2020), NABCB accreditation, IRQS ISO certifications, and India's first shipyard ESG report (FY24-25), positioning it for regulated defence and PSU tenders while differentiating on quality and operational transparency for European commercial clients.

Name

Chowgule and Company - Shipbuilding Division

Legal name

Chowgule and Company Pvt. Ltd.

Website

https://chowgulesbd.com

Company type

Private

Founded year

1916

Operating status

Operating

Headcount range

101–250 employees

Short description

Chowgule SBD is the shipbuilding and offshore energy EPC division of India's Chowgule Group, operating four purpose-built shipyards to build commercial vessels for European shipowners, defence vessels for the Indian Navy, Coast Guard and DPSUs, and offshore platforms for oil and gas clients.

Ownership category

akta.pro rank

Product category

Shipbuilding and Marine Engineering

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (3366)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support) (EUAMAFAI)

Keywords

• Commercial shipbuilding
• Defence shipbuilding
• Offshore platform construction
• Energy EPC services
• Marine engineering

Headquarters

HQ city

Loutolim

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Shipbuilding: Building of multipurpose vessels, bulk carriers, tugs, dredges, specialized vessels, and container vessels for European commercial clients. Long-term customer relationships across multiple project cycles.
2. Defence Shipbuilding: Partnership with Indian Navy, Indian Coast Guard and DPSUs to support Aatmanirbhar Bharat visions. Includes OPV hull construction and air cushion vessels.
3. Energy EPC: Offshore energy engineering, procurement and construction including platform construction, maintenance and repairs for offshore platforms and rigs, and vessel operations. LSTK contracts for design, maintenance, refurbishment, upgrades and transportation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Chowgule SBD designs and builds commercial vessels (multipurpose vessels, bulk carriers, tugs, dredges, diesel-electric and hybrid cargo vessels, container vessels) for European shipowners, and constructs defence vessels (offshore patrol vessel hulls, air cushion vessels, mega blocks) for the Indian Navy, Indian Coast Guard, and Defence Public Sector Undertakings. The Energy EPC division provides offshore engineering, procurement and construction services including greenfield offshore oil and gas and offshore wind platforms, rig reactivation, platform maintenance, refurbishment, and transportation under lump-sum turnkey contracts. Production is carried out across four purpose-built shipyards in Goa and Mangaluru supported by steel/pipe fabrication and warehousing facilities.

Product overview

Chowgule and Company Shipbuilding Division operates as a multi-facility shipbuilding and energy engineering company offering three core product lines: Commercial Shipbuilding (multipurpose vessels, bulk carriers, tugs, dredges and specialized vessels), Defence Shipbuilding (for Indian Navy, Indian Coast Guard and DPSUs), and Energy EPC (offshore platforms, rig repairs, maintenance services). The company manages a network of six manufacturing facilities across India: Mangaluru Shipyard (200,000 sqm), Loutulim Shipyard (42,000 sqm), Rassaim I Shipyard (15,000 sqm), Rassaim II Shipyard (18,650 sqm with aluminum construction facility), Gadegally Steel and Pipe Works (16,300 sqm fabrication support), and Verna Stores (29,100 sqm warehouse). The company is globally ranked no. 1 for European general dry cargo ships by DWT, with over 175 vessels delivered and 63 international projects completed.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Shipbuilding Construction of multipurpose vessels, bulk carriers, tugs, dredges, specialized vessels, diesel-electric cargo vessels, hybrid vessels, and container vessels for commercial shipping clients (Netherlands, Germany, Finland, Sweden, Norway) including Vertom BV, Boomsma Shipping, AtoB@C Shipping, Wijnne Barends, Hagland Shippings, Leonhardt & Blumberg, Navigia Shipmanagement BV, JR Shipping, and Flinter Newbuilding BV.
• Defence Shipbuilding Construction of offshore patrol vessel (OPV) hulls for Goa Shipyard Ltd to supply Indian Coast Guard vessels, manufacture of air cushion vessels, and delivery of mega blocks for Mazagon Dock Shipbuilders Ltd in support of DPSU defence projects and India's Aatmanirbhar Bharat self-reliance mission.
• Energy EPC Engineering, procurement and construction services for offshore oil and gas and offshore wind energy projects, including greenfield platform construction (wellhead platforms with jackets, piles, decks, boat landings, topsides) and monopiles, delivered from the ONGC-approved Mangaluru Yard.
• Maintenance and Repairs Services Lump sum turnkey contracts (LSTC) for offshore platforms and rigs covering design, maintenance, refurbishment, upgrades and transportation, including jack-up rig re-activation projects, crane pedestal installation, steel renewal during operations, flare boom refurbishment, and seawater piping renewal during operations.
• Offshore Energy Vessels Fleet of offshore energy vessels including Accommodation Work Barges, Work Boats, Anchor Handling Tugs and other marine spread supporting offshore energy project execution and operations.

Quantifiable outcome

• 175+ vessels delivered across diverse capacities and applications
• +4 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Goa Shipyard LtdcoreStrategic or Co-development PartnerStrategic partnership for defence shipbuilding - Chowgule SBD builds OPV hulls for Goa Shipyard to supply Indian Coast Guard vessels. Supports Aatmanirbhar Bharat mission for domestic defence production.
• Mazagon Dock Shipbuilders LtdcoreStrategic or Co-development PartnerDefence Public Sector Undertaking partnership for mega blocks and defence vessel construction. Supports indigenous defence shipbuilding through DPSU collaborations.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering): One of the world's largest shipbuilders (VLCCs, LNG carriers, offshore platforms, naval). Comparable as a global incumbent across commercial and offshore segments, though at substantially larger scale than Chowgule.
• Fincantieri S.p.A. Global shipbuilding leader in cruise ships, naval vessels, and offshore. Comparable as a large incumbent building both commercial and naval platforms in Europe, competing for Indian Navy exports and European specialized vessel contracts.
• Sembcorp Marine (now Seatrium): Singapore-based offshore rig and shipyard group building offshore platforms, FPSOs, and specialized vessels. Comparable in offshore EPC and rig repair capabilities; broader and more international scale than Chowgule's Energy EPC division.

Direct peers

• Damen Shipyards Group: Dutch shipbuilding group building a wide range of commercial, defence, and offshore vessels. Comparable in product mix (multipurpose vessels, tugs, specialized ships) and as the dominant European commercial shipbuilder competing for the same client base Chowgule serves.
• Mazagon Dock Shipbuilders Limited: Premier Indian defence shipbuilder (submarines, destroyers, frigates) under the Ministry of Defence. Directly comparable as a DPSU naval shipyard and a Chowgule customer/partner for mega block fabrication; competing for the same defence indigenization order flow.
• Cochin Shipyard Limited: India's largest public-sector shipyard, building commercial vessels, naval platforms, and offshore structures. Directly comparable as a domestic Indian shipbuilder competing in defence and commercial segments, with similar exposure to Aatmanirbhar Bharat and European commercial clients.
• Goa Shipyard Limited: Defence PSU shipyard in Goa building OPVs, fast attack craft, and naval platforms. Directly comparable in Indian defence shipbuilding; also an active Chowgule SBD customer for OPV hulls, making it both peer and partner.
• Larsen & Toubro Shipbuilding: Diversified Indian private conglomerate with a substantial shipbuilding arm building naval platforms, commercial vessels, and offshore structures. Comparable in scale, scope, and private-sector positioning within Indian defence and offshore EPC.
• Garden Reach Shipbuilders & Engineers Limited: Indian DPSU shipbuilder specializing in corvettes, landing craft, and commercial vessels. Comparable as a domestic competitor for Indian Navy and Coast Guard contracts and as a peer in mid-tonnage shipbuilding from India.

Regional players

• Ulstein Verft: Norwegian shipyard building offshore service vessels, wind farm vessels, and specialized tonnage. Comparable in offshore wind and specialized commercial vessel building; primarily serves Norwegian/North Sea owners who are also Chowgule's target segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ChowguleShipyards
• Facebookfacebook.com/chowgulesbd
• LinkedInlinkedin.com/company/chowgulesbd

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chowgule and Company - Shipbuilding Division