MSC, Maersk and CMA CGM invited to join India’s ambitious shipyard project

The world’s three largest containerlines have set their sights on India as the country readies massive investments towards its goals of becoming a global maritime powerhouse.

The government of Narendra Modi has revealed billion-dollar moves on all things shipping through public/private ventures with MSC, Maersk and CMA CGM amongst the first to join India’s plans to bolster its maritime infrastructure.

Earlier this month, India’s finance minister, Nirmala Sitharaman, revealed a $2.9bn maritime development fund scheme for the long-term financing of the country’s shipbuilding and repair industry. The government will contribute 49% of the fund and seek the remainder from ports and the private sector.

Denmark’s Maersk, the world’s second-largest liner, has signed a memorandum of understanding with India’s Cochin Shipyard to explore ship repair and shipbuilding opportunities.

The strategic partnership, which aligns with India’s aim to be among the top 10 maritime nations by 2030 and the top five by 2047, is expected to see the first Maersk vessel repair at Cochin Shipyard already in 2025.

The Indian government-controlled Cochin Shipyard was established in 1972 and is the country’s largest shipbuilding and repair yard. The collaboration with Maersk will initially focus on ships up to 7,000 teu for afloat repairs and up to 4,000 teu for drydocking, with capabilities expected to expand over time.

According to local media, France’s CMA CGM is expected to emulate this move with a delegation set to visit India shortly.

Prime Minister Modi recently visited the company’s chief executive, Rodolphe Saadé, at the French liner’s headquarters in Marseille to discuss CMA CGM’s initiatives in India, including upcoming developments on shipbuilding and ship repair opportunities.

Meanwhile, MSC chief executive Soren Toft has been visiting India this week to meet with Piyush Goyal, Union Minister of Commerce and Industry, to discuss multiple potential investments.

Goyal said on social media the talks focused on investments in inland container terminals, shipbuilding, maintenance, and container manufacturing, as well as vessel partnerships and policy reforms to enhance the nation’s global maritime competitiveness.