Garden Reach Shipbuilders & Engineers Ltd (GRSE) forecasts significant growth in shipbuilding, fueled by strong defense procurement and government backing. The company recently delivered its 110th ship and secured the L1 bid for the ₹25,000-crore Corvette program, enhancing its order backlog and expanding ship repair operations and non-defense divisions.
The Shipping Corporation of India (SCI) has bolstered its fleet with the addition of the LPG carrier, Sahyadri. This Very Large Gas Carrier (VLGC), measuring 225 meters long, enhances India’s energy transportation self-sufficiency. The acquisition increases SCI’s fleet to 57 vessels, supporting government initiatives for maritime self-reliance.
V.Ships Leisure has secured a five-year ship management contract with Marella Cruises, managing five cruise ships starting in late 2025. This partnership will enhance local expertise in the UK and utilize V.’s ShipSure platform for efficient fleet management. The collaboration emphasizes sustainability and digital innovation in cruise operations.
Transport Corporation of India Ltd. (TCI) reported robust Q1 FY2026 financial results, achieving a consolidated revenue of ₹11,506 million, up 9% year-over-year. EBITDA rose by 11.9% to ₹1,520 million, while Profit After Tax increased 17% to ₹1,072 million. Managing Director Vineet Agarwal highlighted consistent growth across sectors and strategic investments.
Gati Shakti Vishwavidyalaya in Vadodara is expanding its focus to marine and port sectors, as announced by Union Railway Minister Ashwini Vaishnaw. This shift aims to align with India’s emphasis on coastal infrastructure and maritime trade. Additionally, a Centre of Excellence in bridge and tunnel engineering will enhance specialized skills for infrastructure development.
Larsen & Toubro Ltd (L&T) plans to invest ₹1,000 crore to expand its shipbuilding complex in Katupalli, Tamil Nadu. The project aims to enhance production capacity, with a target of producing 50,000 tons and constructing 25 new ships annually. Development is set to begin in October, with completion expected in three years.
MSC Group is enhancing its luxury cruise fleet, with Fincantieri recently completing the float out of the third ship, part of a six-ship series. The first two vessels, Explora I and Explora II, feature all-suite accommodations and innovative designs, with a significant investment of $3.7 billion planned for this initiative.
InvestCorp has secured a $550 million investment to expand the port of Duqm in Oman, enhancing regional infrastructure. The project, under Investcorp Aberdeen Infrastructure Partners, will include marine upgrades and a new quay wall for green steel production, supporting Oman’s economic diversification and decarbonization goals.
MSC Cruises is expanding its fleet with two new mega ships from Chantiers de l’Atlantique, each weighing 217,000 gross tons and accommodating over 6,700 passengers. This €3.5 billion investment is set to generate over 20 million work hours, highlighting MSC’s significant role in the growing cruise industry.
India is strategically enhancing its port infrastructure internationally, building on successes like Chabahar in Iran. Through Indian Ports Global LTD (IPGL), it targets African nations, especially Tanzania, for development projects. The goal is to elevate port capacity significantly, promoting India’s maritime presence while fostering global partnerships and cooperation.
The Dredging Corporation of India (DCI) is targeting growth in the Middle East and Southeast Asia, while also focusing on the domestic market. With major expansions from AMNS India, JSW Group, and Adani Group necessitating maintenance services, DCI is strategically positioned to capitalize on these emerging opportunities in infrastructure development.
Vizhinjam International Seaport is poised for significant expansion, aiming to double its workforce within three years. With plans for two additional berths and a larger wave breaker, it seeks to process nearly five million containers annually by 2028, highlighting a pressing need for skilled employees in various sectors.
Mitsui O.S.K. Lines (MOL) has expanded its fleet with the addition of the “Green Sachi,” a very large gas carrier reflagged to India. Operated by MOL (India) PVT LTD, which now owns 11 tankers, this move strengthens its presence in India’s shipping market, particularly at Gift City, a financial hub.
The Indian Register of Shipping (IRS) has opened a new office in Dammam, Saudi Arabia, enhancing its support for the Kingdom’s maritime and oil & gas sectors. This strategic expansion will improve service delivery to local clients, offering services like ship classification, inspections, and compliance audits, reinforcing IRS’s regional presence.
Three prominent shipping figures—Fredriksen, Ofer, and Wilhelmsen—are taking Edda Wind private to overcome growth barriers posed by its current ownership structure. They plan to acquire full control via Electric AS, offering a cash buyout at a 33% premium, valuing Edda Wind at $287.5 million, following strong financial results.
