(MENAFN- KNN India) New Delhi, Oct 16 (KNN) In a major boost to India's shipbuilding ambitions, French shipping giant CMA CGM has placed a $300 million order with Cochin Shipyard Limited (CSL) to build six LNG-powered container vessels, each with a capacity of 1,700 TEUs.

This is the first time a leading global shipping company has commissioned container ships from an Indian shipyard, signalling global confidence in India's growing maritime manufacturing capabilities.

For Cochin Shipyard-best known for constructing India's first indigenously built aircraft carrier, INS Vikrant-the order is a landmark achievement.

The company recently partnered with HD Korea Shipbuilding & Offshore Engineering (KSOE) to enhance its technical and design expertise, which helped secure this prestigious deal.

India currently accounts for less than 1% of global container shipbuilding and ranks 16th worldwide. However, with this deal and government support, the country aims to enter the top 10 shipbuilding nations by 2030 and the top 5 by 2047.

The government's Shipbuilding Financial Assistance (SBFA) 2.0 scheme-offering 20–25% incentives for advanced or green vessel construction-has made Indian shipyards more competitive globally.

Industry experts believe the CMA CGM order will not only enhance India's global credibility but also attract more foreign orders, boost local manufacturing, and create new jobs. It also highlights the potential of Indian yards to contribute to the global transition towards cleaner, LNG-fuelled vessels.

This landmark agreement marks a turning point for India's shipbuilding industry-transforming it from a largely domestic player into a credible contender in the international maritime market.

(KNN Bureau)

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