French shipping major CMA CGM has signed a $360 million agreement with Cochin Shipyard for the construction of six liquefied natural gas (LNG) vessels, marking a significant boost for India’s shipbuilding sector.
Under the deal, the vessels will be built at Cochin Shipyard’s facilities in Kerala, strengthening the yard’s order book and enhancing its capabilities in advanced and environmentally friendly shipbuilding. The LNG-powered ships are expected to support CMA CGM’s fleet modernization strategy and its commitment to reducing carbon emissions.
Industry observers say the contract underscores growing confidence in India’s shipbuilding expertise and aligns with the government’s push to promote domestic manufacturing under its maritime development initiatives. The order is also expected to generate employment and support ancillary industries linked to ship construction.
The agreement further deepens commercial ties between global shipping lines and Indian shipyards, positioning India as an emerging hub for specialized vessel construction.