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 central government plans to unveil a ₹70,000-crore package to boost shipbuilding, repair, and port infrastructure by mid-September. This includes ₹20,000 crore for a shipping cluster program and a similar amount for the revamped Shipbuilding Financial Assistance Programme, aiming to attract investments and enhance maritime capabilities across several states.
HD Hyundai is expanding its shipbuilding business to enhance competitiveness against Chinese firms by acquiring Doosan Vina for $207 million. This acquisition strengthens its capabilities in producing essential components for LNG plants and eco-friendly shipping. The company is also increasing its shipbuilding capacity in Vietnam, aiming for higher annual vessel production.
The Indian government plans to boost the Maritime Development Fund to 70,000 billion rupees, enhancing long-term financing for the maritime sector. By 2047, the sector’s value is expected to reach $940 billion, driven by advancements in shipping and shipbuilding. New incentives and subsidies aim to position India among the top shipbuilding nations.
Fincantieri has successfully completed sea trials for Princess Cruises’ second Sphere-Class ship, the Star Princess. Conducted from August 9 to 12, the trials tested navigation and propulsion systems in the Adriatic Sea. Scheduled for delivery, the ship’s inaugural cruise departs Barcelona on October 4, accommodating 4,300 passengers and 1,600 crew.
During his visit to Fiji National University’s Pacific Centre for Maritime Studies, IMO Secretary General Arsenio Dominguez urged the advancement of sustainable marine transportation. He proposed a market analysis of the shipping industry’s needs and offered consultancy services. This initiative aims to enhance local expertise and revive shipbuilding courses, honoring Pacific island heritage.
The Indian Register of Shipping commended the Indian Coast Guard and Goa Shipyard Limited for launching the Pollution Control Vessel ICGS Samudra Prachet and the Fast Patrol Vessel ICGS Atal. These vessels enhance India’s maritime security and showcase the nation’s commitment to environmental protection and self-reliance in shipbuilding.
The Indian shipbuilding industry is undergoing a transformation, driven by the government’s initiatives under Prime Minister Modi. The Union Budget 2025 introduces reforms to enhance shipyard competitiveness, including a revamped financial assistance policy and a Rs 25,000 crore Maritime Development Fund to modernize capabilities and attract investments.
Chowgule Shipyard, founded in 1916, evolved from a trading company into a leading shipbuilder. Since entering the export market in 2002, it has delivered 42 vessels and holds orders worth $861.90 million. Despite facing challenges, it invests in training and partnerships to enhance its capabilities, fostering optimism for future growth.
India’s maritime ambitions are evolving rapidly, bolstered by a focus on self-reliance. Hindalco Industries Ltd. supplies high-performance aluminium for shipbuilding, collaborating with the Navy to create tailored products. Aluminium’s advantages, including lighter weight and corrosion resistance, position Hindalco to meet growing demands and enhance India’s naval capabilities.
HD Hyundai Robotics and HD Hyundai Samho are collaborating to test German robots in shipbuilding, opting for Neura Robotics’ humanoid robot, 4NE1. Designed to assist in workflows amid labor shortages, this AI-powered robot can learn and handle complex tasks. The partnership aims to enhance ship assembly and welding efficiency.
CMA CGM, the French shipping giant, is engaging with Indian shipyards to build LNG-powered container ships, enhancing its presence in India’s maritime sector. The company is also investing $200 million in the Nhava Sheva Freeport Terminal and exploring the Vadhavan Port project, while fostering innovation through maritime research hubs across India.
Union Minister Sarbananda Sonowal met Japan’s Vice Minister Terada Yoshimichi in Oslo to strengthen maritime cooperation. They discussed shipbuilding, port digitalization, green initiatives, and transforming Andaman & Nicobar and Lakshadweep into Smart Islands. Sonowal emphasized India’s eagerness for joint ventures and proposed training programs for Indian seafarers to support Japan’s maritime needs.
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.
