Cochin Shipyard Limited (CSL) has formed a 50:50 joint venture with Drydocks World Dubai FZCO to manage its International Ship Repair Facility in Kochi. The venture, valued at Rs 1,800 crore, will enhance ship repair capabilities and align with India’s Maritime Vision 2030, pending approvals by key authorities.
Cochin Shipyard Limited and Svitzer have commenced the construction of four advanced battery-electric tugs, representing a milestone in green maritime technology. This initiative, part of India’s Maritime India Vision 2030, aims to enhance domestic electric propulsion capabilities while promoting sustainability and operational efficiency in port operations, supporting zero emissions when powered by green sources.
India aspires to rank among the top five shipbuilding nations by 2047, increasing its capacity to 4.5 million gross tonnes. At the SMM Hamburg event, Shipping Secretary Vijay Kumar outlined a strategy that includes a €7 billion support package and emphasizes sustainability and collaboration with European maritime companies for innovative green shipping solutions.
HD Korea Shipbuilding and Offshore Engineering (HD KSOE) has reviewed its proposed joint venture with India’s Cochin Shipyard, ultimately deciding to shelve the project. Despite this, both companies will continue their technical cooperation, enhancing exchanges in design and procurement, and supplying critical equipment for ongoing contracts with CMA CGM.
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