HD Hyundai Explores Shipyard Partnerships in India to Boost Local Shipbuilding Industry

South Korea’s HD Hyundai is actively exploring opportunities in India for a shipyard location or partnership. This aligns with India’s goal to become a world-class shipbuilder. A delegation from the South Korean shipbuilder is touring India’s facilities and engaging with domestic shipbuilders, potentially including L&T, for partnership opportunities. The South Koreans are evaluating various Indian states to attract investments for a potential shipbuilding facility.

India’s Ports and Shipping Ministry secretary led a delegation to South Korea in December to meet with the three largest South Korean shipbuilders, expressing India’s interest in collaboration opportunities. Prime Minister Narendra Modi aims to position India as a leading shipbuilder globally, emphasizing the industry’s importance for the country’s future economic growth. India plans to rank among the top 10 shipbuilders by 2030 and the top five by 2047.

Despite facing competition from Chinese shipbuilders, HD Hyundai reported strong profitability in 2024 and aims to increase productivity through automation and green technology orders. The company launched its plan for the shipyard of the future in 2021, focusing on utilizing AI and digital twins to enhance productivity and safety. Partnering with Palantir Technologies, Hyundai aims to increase productivity by 30% and reduce production time for new ships by 30% by 2030 through their Future of Shipyard project.

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