A.P. Moller-Maersk and Cochin Shipyard Limited (CSL) have signed a strategic Memorandum of Understanding to strengthen India’s position in the global maritime sector, marking a significant step toward the country’s Vision 2047 maritime objectives.
The partnership comes at a critical juncture as the global shipping industry faces looming capacity constraints in ship repair facilities worldwide. Under the agreement, Maersk will utilize its fleet expertise to enhance CSL’s capabilities, with a primary focus on containership maintenance, repair, and drydocking operations.
“As we witness unprecedented growth in global maritime trade, our collaboration with CSL represents our commitment to strengthening India’s maritime infrastructure,” said Leonardo Sonzio, Head of Fleet Management & Technology at A.P. Moller-Maersk. “The first Maersk vessel repair at CSL, planned already for 2025, will mark the beginning of what we envisage as a long-term collaborative relationship.”
The initiative aligns with India’s recent announcement of a nearly $3 billion maritime development fund announced earlier this month. The fund aims to provide long-term financing for the country’s shipbuilding and repair industry.
“This partnership marks a significant milestone in CSL’s journey as the leading ship repairer in India. Combining Maersk’s global expertise with CSL’s capabilities would help position ourselves to capture a larger share of the global ship repair and building market,” said Rajesh Gopalakrishnan, Executive Director of Cochin Shipyard Limited.
The collaboration scope includes technical expertise sharing, exploration of ship repair and building opportunities, joint training programs, and skill development initiatives. Initially, the partnership will focus on vessels up to 7,000 TEU for afloat repairs and up to 4,000 TEU for dry-docking, with plans for capacity expansion.
This development comes as India intensifies its efforts to become a world-class manufacturer, with Prime Minister Narendra Modi’s vision of achieving developed nation status by 2047. The government’s commitment includes promoting shipbuilding clusters to expand ship categories and capacity, alongside implementing additional infrastructure facilities and technology development.
India also plans to issue credit notes for shipbreaking in Indian yards to encourage the scrapping of old vessels and construction of new ones, complemented by a 10-year extension of import tax exemptions on shipbuilding and breaking inputs.
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