State ownership Cochin shipyard Ltd. (CSL) can get a hand with Hyundai Heavy Industries for a new facility in Kochi, people said on condition of anonymity. Cochin Shipyard confirmed the talks, but did not identify the future partner. A Hyundai team visited India earlier this year for a preliminary survey to invest in Indian shipbuilding.
“We are close to signing a deal with a foreign shipbuilder from Korea or Japan, making hulls for large ships,” said Madhu S. Nair, Chairman and Managing Director of Cochin Shipyard. “We already have a large 310 meter dry dock, which can also be used by the new joint venture to create vessels of different sizes up to 300 meters. A foreign partnership will help bring the technology and scale necessary to create a large ship’s hull using a steel ton.
new feature
Land will be provided by the government owned by the government for new facility faithClose to the current feature of the Cochin Shipyard in Kochi, one of the two people said. The new feature will manufacture cargo ships, container ships, tankers, dried bulk cargo ships and multi -purpose vessels. However, it will not manufacture very large raw carriers (VLCC) due to infrastructure shortcomings, but can later consider it based on market conditions.
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Separately, Korean shipbuilder Hanva is scouting for partnership with both government and private institutions in India, the other person said. The company may consider a shipbuilding facility employed near Kandla port in Gujarat, which is a central government -owned port with sufficient land and infrastructure for shipbuilding and repair. In addition, a team of Japanese ship maker Mitsui OSK shipping is expected in India around June, said people said. The group will have to find local participation in the main functions.
The other person said, “The first deal for a large shipbuilding facility may reach in the next few months, expecting some other deals before the end of the current year. The construction of the ship in India will help the country become a major center for ships after Korea, Japan and China,” said the other person.
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Questions sent to the Ministry of Port, Hyundai Heavy Industries, Hanva Ocean and Mitsui remained unanswered. Mint reported in September that India is looking for investment from Korea and Japan for its ship -making ambitions.
Shipping boost
India is not alone trying to breathe life in its shipbuilding industry. In February, US President Donald Trump slapped a fee of up to $ 1.5 million on Chinese-made ships entering the US, with allegations of up to $ 1 million on both fleet, who ordered new Chinese ships and non-chiny ships in fleet with Chinese ships. The move aims to rebuild the American shipyard. The global shipbuilding industry is currently dominated by a large -scale shipyard in China, South Korea and Japan; However, these features are overbook, with a period of three to five years.
Pushpak Kaushik, CEO of Hyderabad -based shipping and logistics company Jassar Shipping, said, “Investment and technology transfer from countries such as South Korea and Japan is being sought by the Government of India.” “Support has been expressed by states like Andhra Pradesh, Gujarat, and Odisha to establish maritime clusters. A detailed briefing on advanced and environmentally friendly shipbuilding was also received from South Korea. Large commercial ships have been limited in India, even though 28 shipyards exist. Manufactured,” said Kaushik.
Global hub
India is trying to become a global center for ships, and is carrying forward the ownership of the local ship by scaling Indian-made and Indian-owned and flag-owned cargo ships. The country’s share in global shipbuilding is less than 1%. Government’s launch has raised the share of Indian -made ships in India’s fleet from 5% to 7% by 7% by 2030 and by 2047 under the Atamhar Bharat initiative to 2047. The plan is to install four mega shipbuilding parks, which are two each on the coasts of East and West. Shipping Minister Sarbananda Sonowal has said that two shipbuild parks will be operated by 2030, with $ 100 billion global shipbuilding market.
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Nair of Cochin Shipyard said that while the nature of investment details and its new enterprise equity partnership is being worked on, such a feature will require investment in thousands of crores of rupees and will have to generate employment for more than 2,000 people. A modern shipbuilding feature usually costs $ 5-6 billion for construction, port infrastructure and supporting services. Since a dry dock feature is already available in Kochi, new feature may require less.
In July last year, Mint reported that to build a market for domestic ship construction, the Ministry of Shipping has proposed a joint venture of the state-operated shipping Corp (SCI) of India with public sector oil marketing companies for the construction of VLCC. This enterprise can also be a rope in a foreign technology partner. Shipping Minister Sarbananda Sonowal told Mint in September that the government started a mega ship-making mission to develop a mega shipbuilding park with both the shores, and the ministerial teams had visited South Korea and Japan to search for their investment in parks, and at least three state governments agreed to provide land.
Marine fund
Earlier this year, FY26 budget proposed 25,000 crore maritime development fund, a government-industry partnership, which helps develop manufacturing groups with focus on shipbuilding and braking. The budget also proposed to the current shipbuilding financial assistance (SBF) policy to overcome cost losses, while also provided credit notes for shipbreaking to help buy indigenously built ships. The budget also included large vessels in the Infrastructure Hermonized Master List (HML), which allows purchase of ships on easy terms, providing basic customs exemption on raw materials, components, consumables or parts for the construction of extended ships for another 10 years.
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Under the Maritime Vision 2030 and Vision 2047 Plan, the government is targeting India one of the top 10 and shipping and shipping worldwide respectively. Shipbuilding initiative will also address trade concerns about the uncertainty and variability (increase) of shipping cost, which affects their market competition. Along with the better availability of domestic shipping lines at cheap prices, volatility in the freight rate can also be tested due to the incidence of black goose like Kovid epidemic, Russia-Ukraine War and Red Sea Crisis.