Cochin Shipyard Limited (CSL), India’s leading shipbuilder, is planning to expand its reach into the European coastal shipping industry over the next few years. This decision follows CSL’s success in securing contracts to build 14 ships for European clients in the past year.
Madhu S Nair, Chairman and Managing Director of Cochin Shipyard, expressed the company’s keen interest in tapping into the European coastal or short-sea shipping market, via Moneycontrol interview. CSL is particularly targeting vessels in the 100-130 meter range, which are currently in demand among European players. The company is actively exploring opportunities in this sector as part of its international growth strategy.
Although India currently holds less than 1% of the $140 billion global shipbuilding market, the country is making significant efforts to enhance its position. The Maritime India Vision 2030 aims to elevate India’s shipbuilding and repair industry into the top 10 globally, with a new policy supporting these goals expected to be introduced soon. The shipbuilding industry in India covers various segments, each with its own set of challenges, which the government is working to address.
In addition to expanding into the European market, Cochin Shipyard is also focusing on green shipping as a potential revenue driver in the near future. The company plans to develop green vessel construction as a significant part of its business, aligning with global trends toward sustainability.