India, the world’s third-largest oil importer, plans a ₹840 billion ($10 billion) investment to acquire 112 oil tankers by 2040, aimed at boosting energy supply. The initiative includes enhancing domestic shipbuilding, with a goal to raise locally built tankers from 5% to 69% by 2047, aligning with its developmental aspirations.
The Deendayal Port Authority (DPA) in Kandla, Gujarat, received a single bid from PVT LTD, backed by Korea Maritime Consultants. The project aims to create a private shipbuilding cluster capable of constructing 2,000 vessels, including VLCCs. However, due to unmet qualifications, the DPA plans to reissue the tender.
HD Hyundai is partnering with AI and robotics start-ups to develop a humanoid robot for complex welding tasks, aiming to transform smart shipyards. The initiative emphasizes improved human-machine collaboration to enhance productivity and safety. Prototypes are expected by 2026, with field testing and commercialization planned for 2027.
The Maharashtra State Cabinet has approved a pioneering policy to boost shipbuilding, repair, and recycling, making it India’s first comprehensive maritime framework. With targets of ₹6,600 crore in investments and 40,000 jobs by 2030, the initiative aims to position Maharashtra as a key hub in the maritime industry.
The Union Cabinet is poised to approve a ₹25,000 crore Maritime Development Fund (MDF) to boost India’s shipping sector. Proposed by the Ministry of Shipping, this fund aims to finance ship acquisitions and increase the share of Indian-flagged vessels in global freight to 20% by 2047, enhancing maritime security.
A dispute between Petrobras and Gerdau has caused a year-long delay in dismantling an oil production vessel in Brazil, impacting local shipyards. The vessel, FPSO P-32, was set for decommissioning by 2024, but work only began last month due to disagreements over petroleum residue removal. Efforts are underway to resolve the conflict and meet the deadline.
ClassNK has granted approval in principle to Mitsubishi Shipbuilding for their Onboard Carbon Capture and Storage system. This certification confirms the system’s feasibility in meeting regulatory and safety standards. The OCCS is part of efforts to reduce greenhouse gas emissions from ships, aligning with the industry’s focus on CO2 capture methods and fuel conversion.
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.
The adoption of methanol-fueled vessels in the container shipping industry is on the rise, with HMM investing in environmentally friendly fuel options. With 26 methanol-fueled containerships in service and orders for 200 more, HMM’s decision aligns with their expansion and environmental goals. The new vessels will operate on eco-friendly bio-methanol, reducing emissions significantly.
Onomichi Dockyard and Tsuneishi Shipbuilding have collaborated to develop the innovative Bingo 42 dry bulk carrier design, aiming to enhance efficiency and sustainability. With a focus on productivity and fuel efficiency, the vessel incorporates the MT-Fast energy-saving device and dual-fuel capability. This partnership showcases a commitment to innovation in the shipbuilding industry.
The Ministry of Ports, Shipping and Waterways in India aims to boost the maritime sector with projects worth ₹2 trillion. By 2025, 150 projects will be completed to make India a top 5 shipbuilding nation by 2047. Green initiatives, infrastructure development, and innovation programs are key priorities to enhance sustainability and efficiency in the industry.
India is striving to be a top shipbuilding nation by 2030 and 2047. Challenges such as financial constraints and skilled labor shortages must be overcome to achieve these ambitious goals. Collaboration with major players in the industry and focus on smaller vessels could help India compete with global leaders like China.
South Korea’s HD Hyundai is actively exploring opportunities in India for a shipyard location or partnership, in line with India’s goal to become a world-class shipbuilder. The South Korean shipbuilder is touring India’s facilities and engaging with domestic shipbuilders for potential partnerships.
The Ministry of Ports, Shipping and Waterways has formed a Shipbuilding Design Research Committee to support the shipbuilding industry. This panel, headed by the Additional Secretary, includes key officials from various departments and organizations. Their goal is to advise the government on creating a Shipbuilding Design and Research Centre and advancing the National Shipbuilding Mission.
Mandovi Drydocks and Ripley Stevedoring have joined forces to establish a shipbuilding and repair facility at Syama Prasad Mookerjee Port. With an initial investment of Rs 200 crore, the joint venture will focus on building 6,000-8,000-ton ships, expanding to larger vessels in the future. This aligns with India’s efforts to develop its maritime industry.
