Top 5 Shipping Stocks in India to Add to Your 2025 Watchlist

As tensions escalate in the Middle East, particularly around the Strait of Hormuz, Indian shipping stocks have seen a sharp uptick in recent days on expectations of a spike in global freight rates.

The market's reaction follows reports of a potential disruption in one of the world's most crucial maritime trade routes. This comes after a US strike on Iranian nuclear sites and Iran's Parliament proposing the closure of the strait in response - though no final decision has been made.

The Baltic Dry Index (BDI), which tracks global dry bulk shipping rates, is already showing signs of weakness, dropping 3.5% on Friday and over 13% in just a week, pointing to softer demand.

With all eyes now on the sector, here are five Indian shipping stocks to keep an eye on in 2025 as the world watches how this geopolitical storm unfolds.

These stocks have been selected from Equitymaster's screener for - Best Shipping Stocks in India.

#1 Mazagon Dock Shipbuilders

First on the list is Mazagon Dock Shipbuilders.

Mazagon Dock Shipbuilders Limited (MDL), Mumbai, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company.

The company is among India's leading shipbuilding yards, specialising in constructing and repairing warships and submarines for the Ministry of Defence and commercial vessels.

It's the only Indian shipyard to have built destroyers and conventional submarines for the Navy, among the first to manufacture Veer and Khukri-class corvettes, and a lead builder of 4 Nilgiri-class stealth frigates. It's the only shipyard to be conferred with the Navratna status.

Since 1960, MDL has constructed a total of 802 ships, including 28 warships, ranging from advanced destroyers to missile boats. The company has also delivered 7 submarines, strengthening India's underwater defence capabilities.

As a significant contributor to both national and global defence, MDL's shipbuilding capabilities are not limited to warships and submarines.

The company has also constructed a variety of vessels for military support, including cargo ships, supply vessels, and multipurpose support vessels.

As of FY25, the company has an order book of Rs 380 billion (bn).

Going forward, Mazagon Dock Shipbuilders plans to invest Rs 50 bn over the next 4-5 years to expand its infrastructure, which includes developing a graving dry dock and upgrading its Nhava Yard.

In FY26, the company will allocate Rs 5 bn for capital expenditure, with Rs 3.5 bn focused on completing a floating dry dock.

The company aims to maintain a PBT margin of 12-15% for FY26.

For more details, see the Mazagon Dock Ship. company fact sheet and quarterly results.

#2 Cochin Shipyard

Next on the list is Cochin Shipyard.

Cochin Shipyard Limited (CSL) stands out as one of India's most modern and advanced shipyards.

Incorporated in the year 1972, Cochin Shipyard Limited (CSL) is a leading player in the construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships.

CSL has built & repaired some of the largest ships in India and has recently delivered the prestigious Indigenous Aircraft Carrier to the Indian Navy.

It has developed its expertise from building bulk carriers to smaller ships and ships which are more advanced in terms of technology such as platform supply vessels, and anchor handling tug supply vessels. It has a significant focus on building warships for the Indian Navy.

It made history by constructing INS Vikrant, India's first indigenous aircraft carrier and the largest warship ever built in India.

As of September 2024, Cochin Shipyard's order book stood at Rs 225 bn, with 70% coming from the defence sector, 15% from commercial exports, 6% from domestic commercial orders, and 9% from its subsidiaries.

The company plans to expand shipbuilding and ship repair capacity, focus on green technologies, and diversify into new markets like renewable energy.

For more details, see the Cochin Shipyard company fact sheet and quarterly results.

#3 Garden Reach Shipbuilders and Engineers

Next on the list is Garden Reach Shipbuilders and Engineers.

The company caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

It builds vessels frigates, missile corvettes, anti-submarine warfare corvettes, survey vessels, offshore patrol vessels, etc.

Over the years, GRSE has also supplied various boats, pontoons, and barges.

It owns 3 separate shipbuilding facilities close to each other in Kolkata. The ships are built at the Main Works Unit and the Rajabagan Dockyard.

Recently, on 9 June 2025, the company signed two memorandums of understanding (MoUs) during an official delegation visit to Sweden and Denmark.

Garden Reach Shipbuilders signed an MoU with Berg Propulsion in Sweden. It is a global leader in the development, manufacturing and supply of marine propulsion systems.

Going forward, the company expects its order book to cross Rs 400 bn by the end of the financial year 2026.

For more details, see the Garden Reach Shipbuilders & Engineers company fact sheet and quarterly results.

#4 Shipping Corporation of India

Next on the list is Shipping corporation of India.

The company is the largest Indian shipping company in terms of capacity with a diversified fleet profile. It is involved in the business of transporting goods and passengers.

It operates through four segments: Liner, Bulk, Tanker, and Technical & Offshore services. The Liner segment includes break-bulk and container transport. The Bulk Carriers segment includes dry bulk carriers.

The Tankers segment includes crude and product carriers, gas carriers.

The Technical & Offshore segment includes the company owned offshore vessels, offshore vessels managed on behalf of other organizations, income from technical consultancy and passenger vessels and research vessels managed on behalf of other organizations.

Going forward, the company plans to focus on expanding its fleet, modernizing its existing vessels.

#5 GE Shipping

Next on the list is GE Shipping.

The Great Eastern Shipping Company stands as India's largest private-sector shipping company, with operations spanning two primary sectors: shipping and offshore services.

In the shipping domain, the company specializes in transporting crude oil, petroleum products, gas, and dry bulk commodities.

Its offshore segment, managed through its subsidiary Greatship, supports oil companies with offshore exploration and production activities.

Serving a diverse clientele that includes oil firms, refineries, manufacturers, and miners, Great Eastern Shipping has established itself as a key player in the maritime industry.

Going forward, the company has announced a significant investment of $160 million aimed at renewing its fleet.

For more details, see the G.E.SHIPPING company fact sheet and quarterly results.

Snapshot of the Top Shipping Stocks on Equitymaster's Stock Screener

Here's a table that shows the top shipping stocks in India across various parameters.

Conclusion

India is charting a bold course toward becoming self-reliant in shipping space. The government is actively pushing for partnerships between Indian companies and some of the world's biggest private shipyards.

Shipping Minister Sarbananda Sonowal recently shared that the focus is on bringing European innovation to India's shores, while also encouraging major shipbuilders from Asia to set up operations in the country.

It's important to conduct thorough research on financials and corporate governance before making investment decisions, ensuring they align with your financial goals and risk tolerance.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...