HD Hyundai Partners With Cochin Shipyard To Boost India’s Shipbuilding Industry

HD Hyundai has signed a major agreement with Cochin Shipyard Limited (CSL), India’s largest government-owned shipyard, to begin full-scale cooperation in the shipbuilding sector. The agreement was signed on July 4, 2025.

The MoU (Memorandum of Understanding) was signed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), which manages HD Hyundai’s shipbuilding business. Through this agreement, the two companies plan to work together in several key areas, such as ship design support, equipment supply, technical collaboration, and improving workforce skills through better training systems.

Cochin Shipyard is based in Kochi, Kerala, and is the largest shipyard in India. It is 67.91% owned by the Indian government and has strong capabilities in designing, building, and repairing a wide range of vessels, from commercial ships to aircraft carriers. In the past five years, CSL has delivered 70 ships, including 60 small commercial vessels and 10 naval ships.

As part of the partnership, both companies will also explore new shipbuilding projects together for customers in India and around the world. The goal is to improve productivity, raise global quality standards, and create new business opportunities in the global shipbuilding market.

This partnership supports India’s major maritime development plans- the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047. These roadmaps, announced by the Ministry of Ports, Shipping and Waterways, aim to make India one of the world’s top shipbuilding nations by 2030 and among the top five by 2047.

India has also launched a Maritime Development Fund worth around ₹250 billion (approximately 4 trillion Korean Won), and is expanding policies to grow its domestic shipbuilding and port infrastructure.

According to Ken Research, the market was worth around USD 90 million in 2022 and has grown to more than USD 1.12 billion by 2024, an increase of over 12 times in just two years. The industry is expected to grow by more than 60% every year until 2033.

An HD Hyundai official said that this collaboration will help both HD Hyundai and CSL reach new levels of success. The official added that HD Hyundai will use its experience and technology to help CSL improve its global competitiveness and will also look for ways to grow together with Korean equipment companies.

Reference: HD Hyundai

Source: Maritime Shipping News