South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured a contract valued at approximately USD 121 million to construct a very large gas carrier (VLGC) for a European shipowner. This project, expected for delivery in the first half of 2028, adds to the company’s growing portfolio of gas carrier contracts.
Svitzer has signed a shipbuilding agreement with Cochin Shipyard to construct four battery-electric TRAnsverse 2600e tugs, marking the first of this design in India. The collaboration supports Svitzer’s global fleet renewal and aligns with India’s Maritime India Vision 2030, emphasizing green transitions in port operations. Deliveries are expected by 2027-2028.
HD Hyundai announced a preliminary agreement with the Tamil Nadu government to establish a new shipyard, aiming to boost the local economy. Chosen for its favorable climate, Thoothukudi will host this initiative. India seeks to enhance its shipbuilding capacity under the “Maritime Amrit Kaal Vision 2047,” partnering with South Korea for advanced technology.
India is set to establish its first Deep Sea Marine Microbial Repository at the National Institute of Ocean Technology in Andhra Pradesh. This facility will enable scientists to study microorganisms from extreme marine environments, focusing on their industrial and biomedical potential. Over 1,000 promising strains have already been cataloged for research.
Fincantieri has secured a contract to build an ultra-luxury cruise ship for Norwegian Cruise Line Holdings, set for delivery in 2033. This vessel will be a sister ship to the Seven Seas Prestige, currently under construction. The agreement, valued between $550 million and $1.15 billion, emphasizes Fincantieri’s commitment to innovation.
The Paradip and Visakhapatnam Port Authorities, along with the Odisha government, plan a major ₹21,500 crore port in Bahuda, set to handle 150 million tonnes annually. This initiative aims to solidify Odisha’s maritime status, improve trade logistics, and modernize ports, while offering tailored financing through SFCL to support stakeholders.
As battery technology advances, the maritime industry is embracing hybrid and electric solutions. Fleetzero and Glosten are collaborating to design the world’s longest-range hybrid electric vessel. Retrofitting a Lightering Support Vessel, it will operate primarily on battery power, marking a significant milestone for cleaner maritime operations. Construction begins in mid-2026.
India’s Oil and Natural Gas Corporation Ltd (ONGC) is reaching out to public sector shipyards to construct four Platform Supply Vessels (PSVs) under a government initiative to bolster domestic shipbuilding. These vessels are vital for supporting offshore oil and gas operations, enhancing self-reliance in maritime infrastructure. Costs range from $15 million to $54 million.
Fincantieri and TUI AG have signed a MoA for two new cruise ships for Marella Cruises, worth over $2.1 billion. The ships, designed for the English market, focus on sustainability and luxury. Fincantieri will deliver them in 2030 and 2032. This marks a significant milestone for Marella Cruises.
Dutch shipbuilder Damen has teamed up with Yeoman Marine Services Pvt Ltd to build tugboats in India, challenging Vancouver’s Robert Allan Ltd. Concerns arise over the government’s favoritism towards Robert Allan. Damen will offer design expertise while Yeoman Marine will utilize modern techniques for construction.
The Kerala Maritime Board plans to introduce ROVs for underwater exploration via a PPP model with Hie Capital Technologies. The project aims to use ROVs for various tasks like marine wreck exploration and oil exploration. Training programs for ROV operators will be established to create a skilled workforce for effective operation and maintenance.
Australia’s Clive Palmer announces the Titanic II project is back on track, set to sail by 2027. The ship will replicate the original’s design with modern safety features and technology. Partnering with Deltamarin and V.Ships Leisure, Palmer aims to recreate the historic voyage experience, appealing to Titanic enthusiasts worldwide.
