Kochi: Cochin Shipyard Ltd (CSL) is set to make history as the first Indian shipyard to build LNG-powered container vessels for a major foreign company. The state-owned enterprise has signed a letter of intent with French logistics and shipping giant CMA CGM Group to construct six new dual-fuel container ships.
The landmark deal, valued at approximately $300 million (around ₹2,645 crore), marks a major breakthrough for India’s shipbuilding industry and a significant boost for the central government’s ‘Aatmanirbhar Bharat’ (Self-reliant India) and ‘Make in India’ initiatives. Each of the six vessels will have a capacity of 1,700 TEUs (twenty-foot equivalent units).
The ships, which will be built with technical cooperation from South Korea’s HD Hyundai Heavy Industries, are designed to operate on Liquefied Natural Gas (LNG), significantly reducing carbon emissions. The vessels are scheduled for delivery in phases between 2029 and 2031. Each vessel is expected to cost around $50 million (approximately ₹440 crore).
In a significant commitment to the Indian maritime sector, all six vessels will be registered under the Indian flag.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, expressed his pleasure in being the first global shipping company to order Indian-made LNG vessels. Madhu S. Nair, Chairman and Managing Director of Cochin Shipyard, stated that collaborating with a major multinational partner like HD KSOE (Hyundai) will enable CSL to provide world-class service to its global clientele.
This order is seen as a pivotal moment for the Indian shipbuilding industry, catapulting it into the big leagues as it aims to break into the top 10 globally by 2030.
