Knowledge Marine expands dredging operations with new vessel and port contracts
India’s Knowledge Marine & Engineering Works Limited (KMEW) is expanding its dredging and marine services operations following the acquisition of a larger dredger, the award of new port contracts and continued investment in shipbuilding capacity.
In its investor presentation for the first half of the 2026–27 financial year, released on 6 November, the company reported consolidated revenue from operations of ₹186.22 crore for the six months ended 30 September 2026, an increase of approximately 89% compared with the corresponding period a year earlier. EBITDA reached ₹101.71 crore, while profit after tax rose to ₹84.28 crore.
The company also reported an outstanding order book of ₹1,732.55 crore, covering dredging, vessel chartering and shipbuilding activities. Its disclosed pipeline of potential bids exceeds ₹3,500 crore, although these opportunities have not yet been awarded.
New Mangalore contract supports dredging expansion
A central development is KMEW’s three-year maintenance dredging contract with New Mangalore Port Authority, valued at ₹256.92 crore excluding goods and services tax. The project covers approximately 15.9 million cubic metres of dredging over the 2026–27, 2027–28 and 2028–29 financial years, with operations scheduled to begin on 15 November 2026.
To support the contract, KMEW has acquired River Pearl 48, a trailing suction hopper dredger that represents a substantial increase in the company’s dredging capacity. The vessel measures 118.2 metres in length, has a maximum dredging depth of 36 metres and is described by the company as having potential annual dredging capacity of 8–10 million cubic metres, depending on operating conditions.
According to KMEW, the acquisition increases its hopper capacity by nearly four times compared with its previous largest dredger. The company intends to use the larger vessel to compete for maintenance and capital dredging projects while retaining its smaller, specialised dredgers for inland waterways, shallow-water operations and technically demanding assignments.
KMEW also highlighted the completion of a rock dredging project at Jawaharlal Nehru Port Authority as part of its efforts to strengthen its position in more complex marine infrastructure work.
Green tugs and shipbuilding investments
Beyond dredging, KMEW is expanding its portfolio of long-term vessel chartering contracts under India’s Green Tug Transition Programme. The company has secured its third battery-electric green tug contract, awarded by Mumbai Port Authority, with a stated value of ₹236.72 crore over 15 years.
Its existing green tug contracts also include agreements with V.O. Chidambaranar Port Authority and Visakhapatnam Port Authority. Together, the three contracts have a disclosed value of approximately ₹929.52 crore, with the vessels still under construction.
In shipbuilding, subsidiary Knowledge Shipyard Limited is progressing a ₹62.40 crore contract from the Inland Waterways Authority of India for ten hybrid-electric passenger ferries, each designed to accommodate 20 passengers. The project forms part of India’s Harit Nauka initiative, which promotes cleaner technologies in inland water transport.
The company is also developing its shipyard at Saphale, Maharashtra, where it plans to construct green tugs and other marine craft. KMEW is targeting completion of the first development phase by February 2027, with projected capacity of up to 14 vessels annually. This remains a company target rather than a completed expansion.
The shipyard’s disclosed construction programme includes dredgers, workboats, accommodation boats, electric ferries, green tugs and a speed-cum-chase boat for Paradip Port Authority.
KMEW’s growth strategy combines larger dredging assets with long-duration port service contracts and additional shipbuilding capacity. While the New Mangalore project and existing charter agreements provide contracted work, the company’s further expansion will depend on the execution of current projects, completion of its shipyard development and the outcome of future tenders.
