CMA CGM Group signs pact for six LNG-powered vessels to be built at Cochin Shipyard

Mumbai, Oct 15 (PTI) Global shipping and logistics operator CMA CGM Group on Wednesday said it has signed a letter of intent for six LNG-powered containerships to be built at Cochin Shipyard Limited (CSL) in line with its fleet renewal and energy transition strategy.

This strategic move makes the Group the first major foreign carrier to commission LNG vessels from an Indian shipyard, the company said, adding that the containerships will be delivered from 2029 to 2031.

All six vessels will be registered under the Indian flag, each with a capacity of 1,700 TEUs (Twenty-foot Equivalent Units), it said.

This demonstrates CMA CGM's commitment to a more sustainable shipping as it can run on LNG and are ready for low-carbon fuels, significantly reducing greenhouse gas emissions, aligning with the Group's ambition to be Net Zero Carbon by 2050, the company said.

The project at Cochin Shipyard will also be run with the technical cooperation of Korean shipbuilder HD Hyundai Heavy Industries, it said adding this initiative underscores CMA CGM's strong commitment to India's maritime vision and strategic national priorities, including Make-in-India1 and Atmanirbhar Bharat.

CMA CGM will reflag four vessels under the Indian registry in 2025 and aims to recruit 1,000 Indian seafarers by the end of the year. In 2026, the company said it plans to hire an additional 500 Indian seafarers.

CMA CGM Group Chairman and CEO Rodolphe Saade said India is a strategic country for the group where it invests, trains, and innovates. Beyond shipbuilding, the company is also strengthening its partnerships in logistics, maritime training, and sustainable transport to support India's growth and contribute to the decarbonization of global trade, he added.

"CMA CGM has chosen CSL to be part of this landmark initiative. CSL is committed to deliver high quality vessels with sustainable solutions to meet the market expectation of the future shipping. This project is also of great significance to CSL as we are collaborating with the largest shipbuilding group HD KSOE as the major partner, which further reinforces our commitment to bring the best in class solutions through partnerships, to serve clients across the globe," said Madhu S Nair, CMD of Cochin Shipyard. PTI IAS MR