New Delhi: Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MoU) with Synergy Marine Group to jointly pursue business opportunities in shipbuilding, ship repair, vessel conversion, module fabrication and oil and gas projects in India.
The partnership is aimed at combining CSL’s shipbuilding and industrial capabilities with Synergy Marine Group’s experience in ship management, engineering, project management and owners’ representation. The collaboration is aligned with India’s long-term maritime growth ambitions under Maritime Amrit Kaal Vision 2047.
The MoU provides a framework for the two organisations to identify and develop projects based on client requirements and the suitability of Indian shipyard facilities.
MoU Signed in Presence of CSL and Synergy Leadership
The MoU was signed by Ajay Chaudhry, Co-CEO, Ship Management, Synergy Marine Group, and Rajesh Gopalakrishnan, Director (Technical), Cochin Shipyard Limited.
The signing ceremony was held in the presence of:
- Jesper Kristensen, Group CEO, Synergy Marine Group
- Jose V J, Chairman and Managing Director, Cochin Shipyard Limited
The agreement establishes a framework for mutual association and cooperation between the two organisations across multiple maritime and industrial segments.
Partnership to Cover Shipbuilding, Repair and Conversion
Under the MoU, CSL and Synergy Marine Group will jointly explore business development opportunities across a broad range of activities, including:
- Ship repair
- Vessel conversion
- Newbuilding projects
- Module fabrication
- Oil and gas projects
- Engineering and project management
- Technical and strategic advisory support
The collaboration will also enable Synergy to provide mutually agreed technical and strategic advisory support to CSL’s newbuilding activities.
This support may cover areas such as project planning, project execution and quality assurance, with potential opportunities assessed according to customer requirements and the capabilities of Indian shipyard facilities.
Synergy to Bring Global Ship Management and Newbuilding Experience
Synergy Marine Group is a global ship management company headquartered in Singapore and currently manages more than 750 vessels.
Its managed fleet includes a wide range of vessel types, such as:
- Bulk carriers
- Containerships
- Oil and chemical tankers
- Gas carriers
- Floating storage and regasification units (FSRUs)
The company has supported the delivery of more than 250 newbuilding projects. Its current newbuilding portfolio includes more than 150 vessels under construction across 20 shipyards in six countries.
This experience is expected to complement CSL’s existing shipbuilding infrastructure and technical capabilities as the two organisations explore opportunities in India.
Focus on Vessel Conversion and FSRU Projects
The partnership also brings together expertise in technically complex vessel conversion projects.
Synergy Marine Group has experience in converting LNG carriers into floating storage and regasification units (FSRUs). The company also undertakes engineering studies for floating storage and LNG bunkering applications.
Its conversion capabilities cover several stages of project development, including:
- Feasibility studies
- Engineering design
- Equipment procurement
- Site supervision
- Commissioning
- Preparation for safe operations
- Subsequent technical management
The MoU could therefore provide a framework for exploring specialised conversion projects in India based on individual project requirements.
Synergy Highlights Owner-Focused Project Approach
Jesper Kristensen, Group CEO, Synergy Marine Group, said the long-term performance of a vessel is influenced well before it enters service.
He said Synergy’s role is to carry the owner’s requirements through engineering and project execution and into the vessel’s subsequent operational life.
According to Kristensen, combining Synergy’s experience with CSL’s industrial capabilities provides a basis for developing shipbuilding and conversion opportunities in India, with a focus on safety, reliability and total cost of ownership.
CSL to Explore International Maritime Opportunities
Cochin Shipyard is a Government of India enterprise under the Ministry of Ports, Shipping and Waterways and undertakes both commercial and defence shipbuilding projects for customers in India and overseas.
The collaboration with Synergy is expected to support CSL’s efforts to explore technically demanding projects for international customers by combining shipyard infrastructure with engineering, project management and technical expertise.
Jose V J, Chairman and Managing Director, CSL, said India’s maritime opportunity includes technically demanding projects for international customers.
He highlighted the importance of strong shipyard facilities, engineering expertise, project discipline and skilled manpower in developing this business.
According to Jose V J, Synergy’s experience in newbuilding and vessel conversion complements CSL’s capabilities and provides a basis for exploring opportunities that support India’s maritime ambitions.
Key Areas Covered Under the CSL-Synergy MoU
The partnership will provide a framework for cooperation in the following areas:
- Shipbuilding: Jointly pursuing newbuilding opportunities in India.
- Ship Repair: Exploring repair projects for domestic and international customers.
- Vessel Conversion: Developing opportunities involving technically complex vessel conversions.
- Module Fabrication: Exploring fabrication projects for maritime and industrial applications.
- Oil and Gas: Pursuing suitable projects in the oil and gas sector.
- Technical Advisory: Providing mutually agreed technical and strategic support for CSL’s newbuilding activities.
- Project Management: Combining CSL’s industrial capabilities with Synergy’s project management experience.
- Engineering and Quality Assurance: Supporting project planning, engineering execution and quality requirements.
Partnership Aligned With India’s Maritime Growth Ambitions
The CSL-Synergy partnership comes against the backdrop of India’s efforts to expand its maritime and shipbuilding capabilities under Maritime Amrit Kaal Vision 2047 (MAKV 2047).
By combining an Indian government-owned shipyard’s industrial capacity with the global ship management and engineering experience of Synergy Marine Group, the MoU provides a platform to evaluate new opportunities based on commercial requirements, technical suitability and available shipyard infrastructure.
The two organisations will assess potential projects individually, taking into account customer needs and the suitability of Indian facilities for execution.
About Cochin Shipyard Limited
Cochin Shipyard Limited (CSL) is a Government of India enterprise under the Ministry of Ports, Shipping and Waterways. The company undertakes shipbuilding and ship repair activities for commercial and defence customers in India and overseas. CSL has capabilities spanning new ship construction, ship repair and other specialised maritime projects.
