CMA CGM signs a $300 million deal with Cochin Shipyard to build six LNG-fuelled container vessels in India.
In a landmark boost to India’s shipbuilding industry, France-based CMA CGM has signed a letter of intent with Cochin Shipyard to build six LNG-fuelled container ships worth $300 million, its first-ever container ship order in India. This milestone comes shortly after the company reflagged four vessels under the Indian flag, honouring a commitment made to Prime Minister Narendra Modi earlier this year.
The breakthrough agreement follows Modi’s visit to CMA CGM’s Marseille headquarters on February 12, where Chairman and CEO Rodolphe Saadé pledged closer cooperation. “Meeting Prime Minister Modi felt like talking to a business leader rather than a prime minister,” Saadé told The Economic Times. “What was impressive is… we spoke business, and he said, ‘You need to do more.’ Modi is not only a great political leader but also a great business leader.”
Each of the six ships, with a capacity of 1,700 TEUs, will be powered by liquefied natural gas, aligning with CMA CGM’s global decarbonisation strategy. This move positions India as an emerging alternative hub for building small LNG-powered container vessels, signalling growing confidence among global shipping majors in the country’s capabilities.
The development comes soon after a ₹69,725-crore package was approved by the Union Cabinet in September to boost domestic shipbuilding and enhance competitiveness with global leaders like China, South Korea, and Japan.
Industry observers see this as a major leap for India’s maritime sector, marking not just an investment milestone but also the country’s rising profile as a reliable partner in the global shipping supply chain.
With this deal, India’s vision of becoming a key player in sustainable shipbuilding gets a powerful push, blending strategic diplomacy with industrial growth.
Source: Moneycontrol
