CMA CGM Signs Contract with Cochin Shipyard for Six LNG-Powered Containerships

CMA CGM has signed a letter of intent with Cochin Shipyard Limited (CSL) to construct six LNG-powered feeder containerships, marking the first order from a global liner at an Indian yard. The vessels, with a capacity of 1,700 TEU each, are valued at approximately $300 million.

India aims to become a top ten shipbuilding nation by 2030, as outlined in the Maritime India Vision 2030 initiative. The shipbuilding industry is concentrated in coastal regions like Gujarat and Odisha, with major players including Hindustan Shipyard Limited and Larsen & Toubro.

The Ministry of Ports, Shipping and Waterways (MPSW) is establishing shipbuilding clusters in collaboration with coastal states, with Andhra Pradesh offering land for development. India is also seeking partnerships with Japanese shipyards and has made strides in the Norwegian shipping sector, indicating potential growth in its shipbuilding market.