The minister also confirmed that the state-owned Shipping Corp. of India is working with oil PSUs to aggregate demand for 112 vessels and form a joint venture for long-term fleet augmentation, an initiative that could save India up to $75 billion in foreign exchange annually paid to foreign shipping lines. In a major boost to...
Category: Ports & Shipping
Post
Post
India Anchors $8 Billion Maritime Investment Wave
Bhavnagar event sees MoUs signed for new ports, shipbuilding clusters, green transport, and financing partnerships. India’s maritime sector is poised for a transformative leap, with potential investments totalling ₹660 billion ($7.9 billion) inked at the recent ‘Samudra Se Samriddhi: Transforming India’s Maritime Sector’ event held on September 18 and 19 in Bhavnagar, Gujarat. According to...
Post
Cochin Shipyard Partners with HD Korea to Build Large Vessels, Invests Rs 18.7 Billion in Kochi Facility
CSL also signed a second MoU with Guidance, Tamil Nadu’s nodal investment agency, to catalyse the development of shipbuilding clusters and strengthen regional maritime infrastructure. Cochin Shipyard Ltd (CSL), India’s largest shipbuilding and maintenance facility, has signed a strategic memorandum of understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering to advance long-term collaboration in...
Post
India Unveils ₹697 Billion Maritime Revamp to Boost Shipbuilding, Jobs, and Global Competitiveness
Central to the package is the extension of the Shipbuilding Financial Assistance Scheme (SBFAS) until March 31, 2036, backed by a corpus of ₹247.36 billion. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a comprehensive package worth ₹697.25 billion to revitalise India’s shipbuilding and maritime ecosystem. The initiative adopts a four-pillar strategy...
Post
India’s Coastline Will Drive Prosperity: PM Modi Unveils ₹60 Billion Maritime Projects in Gujarat
Speaking at Bhavnagar, Prime Minister Narendra Modi laid the foundation stone for the world’s first compressed natural gas (CNG) terminal and a brownfield port, launching ₹60 billion worth of projects to boost India’s coastal economy, logistics capacity, and global trade integration. Prime Minister Narendra Modi has said that India’s coastline will become the gateway to...
Post
SDHI Signs ₹42.5 Billion Shipbuilding Pact with GMB, Partners with SMFCL to Advance Maritime India Vision
Anchored in Maritime India Vision 2030 and the Amrit Kaal Vision 2047, the agreements signal a strategic leap in infrastructure, skills, and global maritime competitiveness. Swan Defence and Heavy Industries (SDHI), India’s largest shipbuilding and heavy fabrication firm, has signed two strategic memoranda of understanding (MoUs) aimed at accelerating the country’s maritime manufacturing ecosystem. Inked...
Post
India Accelerates Green Hydrogen Push with Port-Based Pilots, R&D Grants and Industry Backing: Pralhad Joshi
To accelerate innovation in green hydrogen, India has launched a ₹1 billion call for proposals targeting start-ups, offering up to ₹50 million per project for pilot initiatives in production, storage, transport and utilisation technologies. Union Minister for New and Renewable Energy Pralhad Venkatesh Joshi has said India is actively working to realise the goals outlined...
Post
Sonowal Reaffirms Shipbuilding Push as VOC Port Launches Green Hydrogen Pilot
While the pilot project makes VOC Port the first in India to produce and utilise green hydrogen on-site, the upcoming green methanol bunkering and refuelling facility is set to establish it as South India’s key hub on the proposed Coastal Green Shipping Corridor. Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, has reiterated the...
Post
India’s Largest Container Terminal Inaugurated at JNPT, Constructed by Man Infra Construction
Designed with advanced green and multimodal infrastructure, the container terminal is expected to significantly boost trade efficiency and strengthen global connectivity. Man Infra Construction Ltd (MICL) has announced the inauguration of the Bharat Mumbai Container Terminal (BMCT) Phase II at Jawaharlal Nehru Port, marking a major milestone in India’s maritime infrastructure. The terminal, developed under...
Post
Government push makes India’s maritime sector future-ready, unlocking $1 trillion potential”: Sonowal
Speaking ahead of India Maritime Week 2025, scheduled from October 27-31, Sonowal said India was committed to building a resilient, sustainable and future-ready maritime ecosystem, unlocking vast avenues for international collaboration. With India entering a new chapter in its maritime journey, the global community must prepare to engage with the significant investment opportunities now emerging,...