HD Hyundai Joins Forces with Cochin Shipyard to Power India’s Maritime Sector Expansion

HD Korea Shipbuilding & Offshore Engineering has signed a comprehensive Memorandum of Understanding with Cochin Shipyard Limited (CSL), India’s largest state-owned shipbuilder, marking HD Hyundai’s full-scale entry into the rapidly expanding Indian maritime sector.

The agreement, signed on July 4, establishes long-term cooperation between the two companies across multiple areas including ship design, equipment support, and technical collaboration. The partnership will focus on enhancing CSL’s productivity and ensuring global-quality standards while advancing workforce capabilities through improved training systems.

CSL, located in Kochi in the southern Indian state of Kerala, is 67.91% government-owned and possesses extensive capabilities in designing, constructing, and repairing vessels ranging from commercial ships to aircraft carriers. Over the past five years, the shipyard has delivered 70 vessels, including 60 small commercial ships and 10 naval vessels.

“This collaboration will serve as a springboard for both HD Hyundai and CSL to reach new heights, while also marking a turning point in accelerating India’s national maritime vision,” said an HD Hyundai official. “By leveraging HD Hyundai’s accumulated technological expertise and experience, we will support CSL in enhancing its global competitiveness, while also seeking opportunities for shared growth with Korean equipment suppliers”.

The partnership aligns strategically with India’s ambitious maritime development roadmaps, including the ‘Maritime India Vision 2030’ and ‘Maritime Amrit Kaal Vision 2047.’ These initiatives aim to position India among the world’s top 10 shipbuilding nations by 2030 and among the top five by 2047.

India’s shipbuilding sector has experienced extraordinary growth, with the market value surging from approximately USD 90 million in 2022 to over USD 1.12 billion by 2024—a twelvefold increase. Market research firm Ken Research projects the sector will continue expanding at an annual growth rate exceeding 60% until 2033.

This move is part of HD Hyundai’s broader global strategy, which has recently included agreements with Huntington Ingalls Industries, America’s largest defense shipbuilder, and Edison Chouest Offshore. The company has also expanded defense cooperation with Peru’s state-run SIMA shipyard for joint submarine development.

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