New Delhi: Cochin Shipyard Limited (CSL), a leading state-owned shipbuilding and repair yard based in India, has secured a major shipbuilding contract worth approximately USD 360 million (Rs 3,267 crore) from France-based CMA CGM Group. The deal includes the construction of six LNG-powered vessels, marking a significant milestone in CSL’s growth and global presence.
The agreement was signed in New Delhi with Shantanu Thakur, the Minister of State at the Ministry of Ports, Shipping, and Waterways, attending the ceremony. This partnership is particularly noteworthy as CMA CGM, traditionally sourcing vessels from China and Korea, has now turned to India for its shipbuilding needs.
LNG-Powered Vessels to Enhance Sustainability
The vessels ordered by CMA CGM will be powered by Liquefied Natural Gas (LNG), a more environmentally friendly alternative to traditional marine fuel. Each ship will have a 1700-TEU (Twenty-foot Equivalent Unit) capacity and is expected to cost around USD 60 million. The first vessel is scheduled for delivery by February 2029, with two vessels to follow each year thereafter.
The ships will be designed by Korea Maritime Consultants Co., Ltd. (KOMAC) and constructed at Cochin Shipyard’s facility in Kerala. This contract not only strengthens CSL’s position in the global maritime industry but also supports India’s maritime vision as outlined in Prime Minister Modi’s Maritime Vision 2047.
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A Historic Partnership Between CSL and CMA CGM
This marks the first time CMA CGM has placed shipbuilding orders with an Indian shipyard, showcasing the growing capabilities of India’s maritime industry. Rodolphe Saadé, Chairman and CEO of CMA CGM Group, expressed his excitement about the partnership, noting the long-standing relationship between the two entities and India’s role in global trade.
“We are looking to expand our engagement in container manufacturing and ship recycling, aligning with India’s Maritime Vision 2047 to establish the country as a major maritime nation,” Saadé said, emphasizing the company’s commitment to contributing to the emerging India–Middle East–Europe Economic Corridor (IMEC).
CSL’s Strong Order Book and Future Prospects
With the new order, Cochin Shipyard’s unexecuted order book now stands at an impressive Rs 23,000 crore, indicating its robust financial health and significant market presence. The company continues to build on its strong track record of delivering high-quality ships and repairs.
About Cochin Shipyard Limited (CSL)
Cochin Shipyard Limited (CSL), headquartered in Kochi, Kerala, is one of India’s premier shipbuilding and repair yards. Established as a public sector company, CSL has played a pivotal role in India’s maritime industry, delivering a variety of vessels including tankers, bulk carriers, and offshore structures. CSL’s commitment to innovation, quality, and sustainability positions it as a key player in the global maritime sector.
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