Maersk & Cochin Shipyard Partner To Enhance Shipbuilding & Repairs In India

Maersk, one of the world’s largest shipping companies, has signed a Memorandum of Understanding with India’s largest shipbuilding company, Cochin Shipyard Limited (CSL), to work together on ship repairs, maintenance, and building new ships in India.

The agreement aligns with India’s plan to become a leading maritime hub by 2047. Ship repair yards worldwide face a shortage of capacity. This makes India’s growing shipbuilding industry even more important.

Through this collaboration, Maersk will use its global fleet management expertise to help CSL improve its ship repair and dry docking services, focusing initially on container ships.

Leonardo Sonzio from Maersk says that this partnership is a big step towards supporting India’s maritime infrastructure. The first Maersk vessel will be repaired at Cochin Shipyard in 2025, marking the beginning of a long-term relationship.

Rajesh Gopalakrishnan from Cochin Shipyard said that combining Maersk’s global expertise with CSL’s existing facilities will allow India to explore more global opportunities in shipbuilding and repair.

The partnership will focus on several areas:

• Sharing knowledge to meet international standards for ship maintenance and repairs.
• Expanding opportunities for ship repairs, dry-docking, and building new ships.
• Creating training programs to improve skills and practices.
• Offering skill development for both Maersk seafarers and CSL employees.

Initially, the partnership will focus on vessels with a capacity of up to 7,000 TEU for afloat repairs and up to 4,000 TEU for dry-docking. Over time, the scope of work is expected to grow.

Recently, the Indian government introduced plans to boost the country’s position in the global shipbuilding industry, aiming to be in the top 10 shipbuilders by 2030 and among the top 5 by 2047.

The government has also pledged to create a 25000 crore Maritime Development Fund to promote competition in the industry and provide customs duty exemptions on raw materials used in shipbuilding for the next 10 years.

Although India has 32 shipyards, the industry has struggled with issues like insufficient investment and inefficiency. However, the new government initiatives are expected to help overcome these challenges and speed up the growth of the industry.

Founded in 1972, Cochin Shipyard is now the largest shipbuilder in India. It serves both the navy and private clients and recently invested over $100 million to expand its facilities.

The new repair yard, which covers 42 acres at Cochin Port, will allow CSL to repair up to five ships at once. CSL has also received orders to build 65 new vessels.

The shipyard is ideally located on India’s southwest coast, close to major shipping routes. This gives it an edge, with access to low-cost labour and modern technology, making it an attractive choice for global shipbuilding and repair services.

This partnership will help CSL meet the rising demand for ship maintenance and repairs.

Reference: Maersk

Source: Maritime Shipping News