DEENDAYAL Port Authority (dpa) and Cochin Shipyard LTD (CSL) have partnered to establish a state-of-the-art ship-repair hub in Gujarat at the cost of 1,750 crore rupees. CSL will manage repair operations at the Vadinar facility, with the capacity to service 32 ships annually. This collaboration aims to boost India’s ship repair capabilities.
The Indian Maritime Centre (IMC), established in September 2024, aims to position India as a global maritime leader. With a diverse board and focus on shipbuilding, ports, and logistics, the IMC fosters collaboration within the industry. As an Apex Body, it plays a crucial role in policy formulation and industry advocacy.
India’s major ports have experienced a significant increase in cargo handling, reaching 819.23 million tonnes in 2023-24. The growth aligns with global standards, with liquid bulk accounting for 33.80%, dry bulk 44.04%, and container cargo 22.16%. Infrastructure development, including new berths and terminals, aims to enhance connectivity and streamline logistics for export-oriented industries.
The Indian Maritime Centre (IMC) has added 12 new members, including key players like Jawaharlal Nehru Port Authority and Adani Ports. With a total of 20 members, the IMC is shaping a cohesive maritime policy. The organization aims to unite private trade associations, government bodies, and industry players, advocating for growth and innovation in the maritime sector.
Deendayal Port Authority (DPA) has issued E-tenders and e-auctions for a 30-year lease of land in Veera for an integrated shipbuilding facility. The reserve price is 27,510 rupees per year, with final price to be disclosed on February 10, 2025. Interested parties must submit online offers by February 21, 2025, with necessary approvals required.
The Centre has identified six national waterways in Odisha suitable for cargo, passenger movement, and cruise tourism. Minister Sonowal confirmed their viability after consulting with the state government. NW-5, with a 30 million metric ton capacity, aims to connect industrial areas with ports. Plans for NW-14 and other waterways include infrastructure development for tourism and transportation.
Adani Ports and Special Economic Zone Ltd (APSEZ) achieved a record-breaking monthly cargo volume of 39.9 million metric tonnes in January, with notable growth in containers and liquids/gas. Mundra Port, a key facility under APSEZ, set national records in cargo handling, highlighting its position as a leading global port and vital contributor to India’s economy.
Seafaring career in India is set to enhance, with the government targeting a 20% global share of Indian seafarers by 2030. Anglo-Eastern Shipping Company celebrates its 50th anniversary and offers one of the largest cadet training programs, training over 2,000 aspiring officers, including a focus on female students.
The Women’s International Shipping and Trading Association (WISTA) will host its mid-term meeting in India for the first time, marking a significant milestone in maritime diversity. The inaugural WISTA International EXCO Conference on April 9, 2024, will focus on sustainable shipping, showcasing women’s vital contributions in this evolving industry.
The Ministry of Ports, Shipping, and Waterways in India is pushing a $2-3 billion policy to modernize shipbuilding yards. Major players like MSC are interested. Shipbuilding yards are crucial for constructing new ships. MSC is considering setting up a yard in Gujarat due to China’s capacity constraints. Efforts include capacity expansion, technology upgrades, and partnerships.
DP World Cochin achieved a 17% growth rate last year at the ICTT, handling 840,564 TEU and making it one of the busiest terminals in South and East India. New cranes and expanded space have increased capacity to 1.4 million TEU annually. The launch of the Cochin Economic Zone highlight the terminal’s success.
The Adani Group is considering developing a transshipment port on Great Nicobar Island, along with an airport, new town, tourism facilities, and power plants. This ambitious project aims to establish the island as a major shipping port, but experts are worried about its impact on the environment and indigenous population of the region.
The budget for India’s Inland Water Transport Authority (IWAI) has been increased to Rs 1,944 crore in FY2025-26, a 31% rise from the previous year. This funding will focus on developing National Waterways, improving infrastructure, and enhancing waterway connectivity. Additionally, the Chennai Port Authority received a loan for land acquisition and road construction.
India’s shipbuilding industry is poised for a resurgence with a focus on enhancing capacity in the latest budget. Cochin Shipyard Ltd is at the forefront of this initiative, investing in new facilities for ship production and repair. The budget’s incentives and emphasis on shipbuilding are expected to drive growth and innovation in Kerala’s maritime sector.
India is investing $6 billion in its maritime sector, aiming to become a global powerhouse. The budget includes a $3 billion Maritime Development Fund to finance ship acquisitions and increase market share. Plans also focus on domestic shipbuilding, with clusters in five states and financial assistance to Indian shipyards.
