During the 11th International Maritime Congress in Szczecin, Prime Minister Donald Tusk launched the Polish Sea program, aimed at revitalizing the maritime economy. The initiative focuses on attracting investments in Pomerania, enhancing shipbuilding and port infrastructure, and prioritizing Polish suppliers for key projects, including offshore wind farms and nuclear power.
In an effort to strengthen its shipbuilding industry, the Indian government is allocating over Rs 20,000 crore for the second phase of the Shipbuilding Financial Assistance Policy. This includes establishing four new shipbuilding hubs in Odisha, Andhra Pradesh, Gujarat, and Tamil Nadu, crucial for meeting domestic vessel demands.
DP World and Asian Terminal Inc. (ATI) have invested $100 million in significant upgrades at Manila South Harbor, enhancing its role as a vital trade hub. With a 25% increase in annual capacity to nearly two million TEUs, new STS cranes and plans for eco-friendly equipment highlight the region’s growth potential.
Adani Ports & SEZ Ltd plans a ₹13,000 crore investment to expand the Vizhinjam International Deepwater Seaport. Prime Minister Modi inaugurated the project, with the second phase set for completion by 2028. The expansion will increase capacity from 1 million to 5 million TEUs, enhancing India’s maritime capabilities significantly.
The Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, announced the construction of nine permanent inland water transport terminals and two Ro-Ro/Ro-passenger terminals on National Waterway-3. With investments of Rs 6,434 crore, the development of National Waterways (NWs) in the country is a key focus, attracting private sector investment for sustainable transportation.
India is poised to invest ₹2 trillion in its maritime sector to drive growth and transformation. Plans include expanding shipbuilding capacity, improving port infrastructure, and promoting sustainability. Collaborative efforts between central and state governments, policy reforms, and skill development programs are key to this ambitious roadmap.
The UK government is investing $71.45 million in the Port of Cromarty Firth in Scotland to make it a hub for floating offshore wind, supporting the goal of reducing carbon emissions by 2030. This move will attract more investments, create jobs, and drive economic growth while advancing renewable energy development.
Union Minister Sarbananda Sonowal announced a 4,800 billion rupees investment to boost Assam’s waterways sector, aligning with PM Modi’s Viksit Bharat vision. Funds will go to green ships, cruise tourism, and infrastructure projects. Plans include a Water Metro service, electric catamarans, and a new cruise terminal in Guwahati.
The Mediterranean Shipping Company (MSC) is expanding its commitment to India’s maritime sector, following CEO Soren Toft’s recent meeting with Union Minister Sarbananda Sonowal. They discussed investment opportunities in logistics, shipbuilding, and cruise tourism, aligning with initiatives like the Sagarmala Project and the ‘Make in India’ campaign to strengthen local capabilities.
Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal stressed the importance of creating a favorable environment to attract private investment in the maritime sector. The government is focusing on infrastructure development and skilled manpower to make the sector more appealing to investors. Sonowal highlighted the advantages of cost-effective transportation and environmental friendliness in the maritime sector.
The Ministry of Ports, Shipping, and Waterways in India is pushing a $2-3 billion policy to modernize shipbuilding yards. Major players like MSC are interested. Shipbuilding yards are crucial for constructing new ships. MSC is considering setting up a yard in Gujarat due to China’s capacity constraints. Efforts include capacity expansion, technology upgrades, and partnerships.
Hanwha Ocean, a South Korean shipbuilder, is investing $1.3 billion in safety enhancements at its shipyard operations over the next three years. This decision comes after criticism from the government and unions for lax safety protocols. The investment will include a smart system using AI, body cameras for workers, and replacing outdated equipment.
Hyundai’s HD Hyundai is making significant investments in hydrogen fuel cells to strengthen its position in the shipping industry. By establishing a new division, HD Hydrogen, and acquiring a majority stake in a Finnish company, the company aims to tap into the growing market for hydrogen fuel cells and electrolysis technologies. Initial focus will be on stationary power generation, followed by applications in the marine fuel cell market.
The government is considering setting up a maritime development fund to provide low-cost, long-term financial support to the shipping sector. Ministry of Ports, Shipping and Waterways Secretary T K Ramachandran stated that the government is also looking at granting infrastructure status to the shipping sector. Plans for the fund include options for setting it up under a newly proposed development finance institution or as a standalone company with majority ownership by multilateral/bilateral agency. The government is also considering various measures to facilitate investment in the maritime sector, including extending shipbuilding financial assistance policy and developing shipbuilding & repair clusters at Mumbai, Kochi, and Chennai.
Ocean Network Express (ONE) is investing in methanol dual-fueled containerships, part of a $20 billion fleet and operations strategy. The vessels, to be delivered in 2027, will have a capacity of 13,000 TEU and feature state-of-the-art technologies for fuel efficiency and GHG emissions reduction. The move aligns with ONE’s sustainable goals.
