Larsen & Toubro (L&T) has entered a memorandum of understanding (MOU) with Norway’s Ulstein Group ASA to collaborate on ship design and manufacturing, marking a significant step toward commercial shipbuilding. The agreement was finalized during Norway’s Nor-Shipping Week, where L&T participated alongside various Indian firms, led by Sarbananda Sonowal, the Union Minister of Ports, Shipping, and Waterways.
Ulstein Group is recognized for its expertise in constructing advanced vessels, including offshore wind service ships and luxury yachts. Their Design & Solutions division provides comprehensive design packages for global shipbuilding, targeting various markets such as offshore renewables, passenger ships, and gas transportation.
L&T entered the shipbuilding sector in 2007 but exited commercial shipbuilding following the 2008 financial crisis, focusing instead on stable government defense contracts. With recent announcements of supportive shipbuilding policies in India’s Union budget, L&T is now re-entering the commercial shipbuilding market.
Additionally, during Nor-Shipping Week, L&T forged another agreement with DNV, a global leader in ship classification, to collaborate on diverse sectors such as energy systems and digital solutions, enhancing their capacity and positioning in the maritime industry.
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