India Supplies “Green Ships” To EU And US, Aims To Become Global Shipping Hub

Like transporting coals to Newcastle, India has now started supplying indigenously built “green ships” to shipbuilding nations like Norway, the US, and Germany, boosting its aim to emerge as a global shipping hub.

This move has come through amid a global environmental focus on the entire shipping industry. While vessels are responsible for ferrying the majority of goods all over the world, they are also responsible for emitting a substantial amount of greenhouse gases.

The issue is now critical as the global energy crisis brought about by Russia’s invasion of Ukraine has additionally sparked renewed interest in building “green ships” — vessels typically running on less polluting fuels like methanol, green hydrogen, electricity, and hybrid batteries.

Recently, the state-run Cochin Shipyards Ltd (CSL) successfully delivered to Norway two electric cargo ferries. Several other orders are also in the pipeline.

This brilliant development earmarks a surprise reversal of the country’s existing strategy of looking at sourcing green vessels from the US and Europe.

CSL has managed to secure contracts for the construction of two vessels from its European clients that are going to be fuelled by methanol.

Besides, the shipyard has also signed deals with its Norwegian clients for building two container vessels to be operated on green hydrogen.

Yet another contract for delivering eight eco-freighters to the German HS Schiffahrts Group marks CSL’s excellent entry into the short-sea shipping market, which comprises ports in Europe. The private sector is strengthening domestic maritime manufacturing.

A Goa-based firm named Chowgule and Co has secured its contracts for developing eight electric hybrid vessels for major European clients.

Besides Germany and Norway, Indian shipbuilders are expecting to strike exciting deals with firms in the Netherlands, Denmark, the US, and also West Asia.

Closer to home, contracts are being looked at from Sri Lanka, Bangladesh, and Myanmar. The minister mentioned that India and Norway would collaborate on developing the infrastructure for manufacturing green passenger as well as cargo vessels that would be used for the domestic and international markets.

Besides the CSL, several India-based ship design and technology majors are actively working toward delivering next-gen green ship solutions.

On its part, the centre is extending funds via the Shipbuilding Financial Assistance Policy (SBFA) to India’s shipyards to make the country one of the sought-after destinations for tech-advanced green vessels.

Reference: Mint, EduGuidance

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Source: Maritime Shipping News