On October 29, Prime Minister Narendra Modi unveiled a strategic vision for India’s maritime future at the Maritime Leaders Conclave in Mumbai. Addressing over 85 nations, he announced significant investments and legislative reforms, including a Rs 70,000 crore initiative for shipbuilding, emphasizing India’s growing global maritime confidence and infrastructure advancements.
Madhu Nair, Chairman and Managing Director of Cochin Shipyard, announced an order book of approximately ₹20,000 crore, with significant contributions from the merchant vessel sector. He highlighted recent infrastructure investments, including a new dry dock. Looking ahead, Cochin Shipyard aims to strengthen its presence along India’s coasts through strategic partnerships.
India’s maritime sector has seen remarkable growth in the last decade, particularly in ports, coastal shipping, and inland waterways. This aligns with the Maritime India Vision 2030, enhancing infrastructure and economic development. The surge in cargo capacities and efficient transport highlights India’s strategic focus on maritime trade, boosting global competitiveness.
Goa is urged to establish a maritime board to drive its shipbuilding industry, promote sustainable technologies, and strengthen public-private partnerships. The Confederation of Indian Industry (CII) report forecasts significant growth, projecting the sector’s value to rise from ₹22,865 crore in FY24 to ₹64,058 crore by FY37.
Shipping has always been a diverse industry, uniting individuals from various cultures. Elpi Petraki, President of WISTA International, stresses that inclusion is vital for tackling challenges like decarbonization. As the sector shifts towards sustainable fuels, collaboration and a diverse workforce will be essential for innovative solutions and a greener future.
Adani Ports and Special Economic Zone Ltd (APSEZ) reported an 11% increase in cargo volumes for September 2025, highlighting strong growth in logistics and port operations. Rail logistics volumes surged by 22% YoY, while cargo under the General-Purpose Wagon Investment Scheme reached 1.63 MMT, reinforcing APSEZ’s pivotal role in India’s trade ecosystem.
The VOC Port in southern India has experienced remarkable growth in LPG handling, with a 40.01% increase in 2025–26. By July, it processed 133,520 tonnes, up from 95,364 tonnes last year. With significant upgrades in facilities, the port aims to accommodate larger vessels, enhancing efficiency to meet rising energy demands.
Ahti Climate has secured additional funding from Business Finland to enhance its Ahti Pool platform, following an initial grant in September 2024. This funding aims to strengthen Ahti’s growth strategy and product differentiation in the maritime emissions compliance sector, facilitating compliance with the upcoming FuelEU Maritime regulations effective January 1, 2025.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasized President Bola Tinubu’s commitment to developing Nigeria’s maritime sector. At a Nigerian Chamber of Shipping meeting, he outlined plans to replicate the Lekki Deep Seaport model nationwide, focusing on public-private partnerships to enhance trade, industrial growth, and job creation.
In the first half of 2025, the Port of Hamburg saw a 3.6% increase in sea-borne freight volume, reaching 57.8 million tons. Container traffic surged by 9.3%, driven by robust import growth. However, bulk and conventional cargo faced declines, highlighting mixed results amid global trade challenges. Investment in infrastructure is underway.
Econavis Solutions, a maritime technology firm in Glasgow, has secured a £300,000 investment from the Innovate UK Icure Exploit program to drive growth. This funding will commercialize research from the University of Strathclyde and support the launch of its ECO Boss Cap Propeller Hub, enhancing hydrodynamic efficiency in the industry.
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.
India’s ship finance and leasing sector has historically struggled, worsened by the 2009 financial crisis and regulatory restrictions. However, the last few years show promise, largely due to the International Financial Services Centre at GIFT City, which offers competitive tax incentives and a favorable environment for domestic and international stakeholders.
India’s port sector is experiencing impressive growth, defying global trade tensions. Fueled by domestic consumption and government infrastructure initiatives, cargo volumes are expected to rise at a CAGR of 6.2% by FY25. With plans to expand capacity to 10,000 MMT by 2047, India’s maritime trade importance is growing significantly.
The river cruise tourism sector in India is surging, with series rising from 371 in 2023-24 to 443 in 2024-25—a 19.4% increase. Viking Cruises is entering this market with the MV Brahmaputra, enhancing investment. The Inland Waterways Authority of India aims to develop 51 new circuits by 2027.
