Indian Shipbuilding Industry : News & Updates
- Thread starter Tatvamasi
- Start date
L&T (SSHF) dispatched indigenous marine shaft shipsets—specifically 11 m–class marine propeller shafts—to domestic customers.
FOK for this specific application marks a pioneering marine manufacturing milestone in India's heavy forging for marine propulsion. India previously imported ~100% of 10m+ marine shafts; LTSSHF now the sole domestic supplier qualified at this spec, cutting lead time & dependency.
Shaft met stringent American ABS/DNV accreditation enabling serial production. If India builds ~30 relevant vessels/year, that’s ₹250 crore in import substitution, scaling higher with exports & larger vessels.
L&T Shipbuilding wants to build every type of surface ship for defence needs:
Cochin Shipyard, SDHI, L&T submit expression of interest for building 8 very large gas carriers in $1 bn deal
Shipping Corporation of India will have the option either to invite bids from the applicants who have responded to the EoI or float a global tender enquiry to buy the tankers, according to the EoI.
By P Manoj
Published On Mar 26, 2026, at 08:19 AM IST
L&T Shipbuilding has submitted EoI through a tie-up with South Korea’s Hanwha Ocean Co Ltd.
MUMBAI: Cochin Shipyard Ltd, Swan Defence and Heavy Industries Limited (SDHI) and L&T Shipbuilding Ltd have responded to an expression of interest (EOI) called by Shipping Corporation of India Ltd on behalf of its proposed joint venture with state-run oil companies to build eight very large gas carriers (VLGCs) of 88,000 cubic metre capacity each, six of which in a local shipyard, in a deal worth $1 billion.
Cochin Shipyard has tied up with South Korea’s HD Korea Shipbuilding & Offshore Engineering Co Ltd (KSOE), the world’s top shipbuilder, to submit the EoI, while SDHI has partnered with Samsung Heavy Industries Co., Ltd, one of South Korea’s top three shipbuilders, sources said.
L&T Shipbuilding has submitted EoI through a tie-up with South Korea’s Hanwha Ocean Co Ltd. Under the EoI, which closed last week, two VLGCs are planned to be built in an international shipyard having experience of delivering at least three VLGCs in the last five years. The balance six VLGCs will have to be built at a shipyard based in India by the same (global) shipyard through technical tie-up, collaboration, joint venture (JV) or strategic alliance, SCI wrote in the EoI.
Indian yards have never built VLGCs before and this will be the biggest new shipbuilding planned by an Indian company.
The EoI was issued by SCI on behalf of the proposed JV company seeking offers from global shipyards (both Indian as well as international).
The EoI is intended to ascertain modalities and capabilities of shipyards for building two VLGCs in international shipyard and balance six VLGCs in India. Accordingly, through the EoI, shipyards having required infrastructure, technology and capability for building VLGC’s in India will be ascertained.
SCI will have the option either to invite bids from the applicants who have responded to the EoI or float a global tender enquiry to buy the tankers, according to the EoI.
Advt
“Indian and international shipyards can have a technical tie-up, collaboration, JV or strategic alliance to participate in the EoI.The shipbuilding contract will be executed between the successful bidder and SCI or the JV company of SCI.
The joint venture to be led by Shipping Corporation with 50 per cent stake will have Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL), Oil and Natural Gas Corporation Ltd (ONGC) and Sagarmala Finance Corporation Ltd as partners.
The JV intends to buy some 59 ships – through a combination of second hand purchases from the market and newly built vessels from Indian yards - of various types such as very large crude carriers, very large gas carriers, Suezmax and Aframax tankers, medium range tankers and offshore vessels with an investment of as much as ₹15,000 crore over the next five years, a top official from the state-run carrier said previously.
Of the 59 ships, eight are VLGCs with Indian Oil Corporation needing four such tankers, and two each by Bharat Petroleum Corp and Hindustan Petroleum Corp.
Shipping Corp previously said it is working collaboratively with state-owned companies in the oil and gas sector to set up the JV company for purchasing, owning, operating, and managing various class of vessels for EXIM and coastal shipping of crude oil, petroleum products and other hydrocarbon cargoes.
The VLGC purchase plan aligns with India’s ambition to break into the global top ten in shipbuilding by 2030 and top five by 2047.
In September 2025, the Union Cabinet approved a ₹69,725 crore package to promote the local shipbuilding industry.
The package includes a ₹24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS) comprising ₹20,554 crores for financial assistance to shipyards, ₹4,001 crore for shipbreaking credit notes (40 per cent of scrap value reimbursed) and ₹181 crore for a National Shipbuilding Mission to oversee the initiatives.
The ₹25,000 crore Maritime Development Fund (MDF) will comprise ₹20,000 crore as Maritime Investment Fund (with 49 per cent government equity) and ₹5,000 crore Interest Incentivization Fund (up to 3 per cent interest incentive). The Maritime Development Fund will be a blended finance model to attract private investment.
A separate Shipbuilding Development Scheme (SbDS) with a corpus of ₹19,989 crore were also approved by the Cabinet. This includes ₹9,930 crore for greenfield shipbuilding clusters, ₹8,261 crore for brownfield expansion, ₹305 crore for India Ship Technology Centre (ISTC) and ₹1,443 crore for risk-related credit cover.
The Ship Building Financial Assistance Scheme seeks to overcome the cost differential faced by local yards compared to foreign shipyards, incentivize ship building by issuing credit notes while recycling ships in India.
The MDF will enable access to competitive and long-term financing to maritime sector through equity and debt-based funding.
The Shipbuilding Development Scheme aims to develop capacity at Indian shipyards to meet the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047 targets. It also seeks to develop domestic capability in terms of skills, R&D, ship design and common facilities and assets.
Cochin Shipyard, SDHI, L&T submit expression of interest for building 8 very large gas carriers in $1 bn deal
Shipping Corporation of India will have the option either to invite bids from the applicants who have responded to the EoI or float a global tender enquiry to buy the tankers, according to the EoI.
By P Manoj
Published On Mar 26, 2026, at 08:19 AM IST
L&T Shipbuilding has submitted EoI through a tie-up with South Korea’s Hanwha Ocean Co Ltd.
MUMBAI: Cochin Shipyard Ltd, Swan Defence and Heavy Industries Limited (SDHI) and L&T Shipbuilding Ltd have responded to an expression of interest (EOI) called by Shipping Corporation of India Ltd on behalf of its proposed joint venture with state-run oil companies to build eight very large gas carriers (VLGCs) of 88,000 cubic metre capacity each, six of which in a local shipyard, in a deal worth $1 billion.
Cochin Shipyard has tied up with South Korea’s HD Korea Shipbuilding & Offshore Engineering Co Ltd (KSOE), the world’s top shipbuilder, to submit the EoI, while SDHI has partnered with Samsung Heavy Industries Co., Ltd, one of South Korea’s top three shipbuilders, sources said.
L&T Shipbuilding has submitted EoI through a tie-up with South Korea’s Hanwha Ocean Co Ltd. Under the EoI, which closed last week, two VLGCs are planned to be built in an international shipyard having experience of delivering at least three VLGCs in the last five years. The balance six VLGCs will have to be built at a shipyard based in India by the same (global) shipyard through technical tie-up, collaboration, joint venture (JV) or strategic alliance, SCI wrote in the EoI.
Indian yards have never built VLGCs before and this will be the biggest new shipbuilding planned by an Indian company.
The EoI was issued by SCI on behalf of the proposed JV company seeking offers from global shipyards (both Indian as well as international).
The EoI is intended to ascertain modalities and capabilities of shipyards for building two VLGCs in international shipyard and balance six VLGCs in India. Accordingly, through the EoI, shipyards having required infrastructure, technology and capability for building VLGC’s in India will be ascertained.
SCI will have the option either to invite bids from the applicants who have responded to the EoI or float a global tender enquiry to buy the tankers, according to the EoI.
Advt
“Indian and international shipyards can have a technical tie-up, collaboration, JV or strategic alliance to participate in the EoI.The shipbuilding contract will be executed between the successful bidder and SCI or the JV company of SCI.
The joint venture to be led by Shipping Corporation with 50 per cent stake will have Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL), Oil and Natural Gas Corporation Ltd (ONGC) and Sagarmala Finance Corporation Ltd as partners.
The JV intends to buy some 59 ships – through a combination of second hand purchases from the market and newly built vessels from Indian yards - of various types such as very large crude carriers, very large gas carriers, Suezmax and Aframax tankers, medium range tankers and offshore vessels with an investment of as much as ₹15,000 crore over the next five years, a top official from the state-run carrier said previously.
Of the 59 ships, eight are VLGCs with Indian Oil Corporation needing four such tankers, and two each by Bharat Petroleum Corp and Hindustan Petroleum Corp.
Shipping Corp previously said it is working collaboratively with state-owned companies in the oil and gas sector to set up the JV company for purchasing, owning, operating, and managing various class of vessels for EXIM and coastal shipping of crude oil, petroleum products and other hydrocarbon cargoes.
The VLGC purchase plan aligns with India’s ambition to break into the global top ten in shipbuilding by 2030 and top five by 2047.
In September 2025, the Union Cabinet approved a ₹69,725 crore package to promote the local shipbuilding industry.
The package includes a ₹24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS) comprising ₹20,554 crores for financial assistance to shipyards, ₹4,001 crore for shipbreaking credit notes (40 per cent of scrap value reimbursed) and ₹181 crore for a National Shipbuilding Mission to oversee the initiatives.
The ₹25,000 crore Maritime Development Fund (MDF) will comprise ₹20,000 crore as Maritime Investment Fund (with 49 per cent government equity) and ₹5,000 crore Interest Incentivization Fund (up to 3 per cent interest incentive). The Maritime Development Fund will be a blended finance model to attract private investment.
A separate Shipbuilding Development Scheme (SbDS) with a corpus of ₹19,989 crore were also approved by the Cabinet. This includes ₹9,930 crore for greenfield shipbuilding clusters, ₹8,261 crore for brownfield expansion, ₹305 crore for India Ship Technology Centre (ISTC) and ₹1,443 crore for risk-related credit cover.
The Ship Building Financial Assistance Scheme seeks to overcome the cost differential faced by local yards compared to foreign shipyards, incentivize ship building by issuing credit notes while recycling ships in India.
The MDF will enable access to competitive and long-term financing to maritime sector through equity and debt-based funding.
The Shipbuilding Development Scheme aims to develop capacity at Indian shipyards to meet the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047 targets. It also seeks to develop domestic capability in terms of skills, R&D, ship design and common facilities and assets.
Cochin Shipyard, SDHI, L&T submit expression of interest for building 8 very large gas carriers in $1 bn deal
Colombo Dockyard PLC (CDPLC) is now subsidiary of MDL.
Indian shipbuilder SDHI bags order for four dual-fuel post-panamax bulk carrier newbuildings
Energy One is a partner in investment fund New Energy One
By Irene Ang, TradeWinds correspondent, Singapore
Published 7 April 2026, 12:50
A view of Swan Defence and Heavy Industries’ shipyard on the west coast of Gujarat, India. Photo: Swan Defence and Heavy Industries
Revived India’s Swan Defence and Heavy Industries (SDHI) has struck a newbuilding deal with Energy One for a series of dual-fuel post-panamax bulk carriers.
SDHI disclosed that Energy One has ordered four ammonia-capable 92,500-dwt newbuildings.
Indian shipbuilder SDHI bags order for four dual-fuel post-panamax bulk carrier newbuildings
Energy One is a partner in investment fund New Energy One
By Irene Ang, TradeWinds correspondent, Singapore
Published 7 April 2026, 12:50
A view of Swan Defence and Heavy Industries’ shipyard on the west coast of Gujarat, India. Photo: Swan Defence and Heavy Industries
Revived India’s Swan Defence and Heavy Industries (SDHI) has struck a newbuilding deal with Energy One for a series of dual-fuel post-panamax bulk carriers.
SDHI disclosed that Energy One has ordered four ammonia-capable 92,500-dwt newbuildings.
Indian shipbuilder SDHI bags order for four dual-fuel post-panamax bulk carrier newbuildings
Cabinet approves proposal for creation of ‘Bharat Maritime Insurance Pool’ (BMI pool) with a sovereign guarantee of Rs 12,980 crore to facilitate continuous maritime insurance coverages
The Domestic Insurance Pool addresses global volatility, geopolitical instability and reduces external Insurance dependency of Indian vessels
The pool covers all maritime risks like Hull and Machinery, Cargo, P&I and War risk, Covers vessels carrying cargo from any international origin to Indian ports and vice-versa, even when transiting volatile maritime corridors
Posted On: 18 APR 2026 3:12PM by PIB DelhiThe Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has approved the proposal for creation of a domestic insurance pool, namely ‘Bharat Maritime Insurance Pool’ (BMI pool) with a sovereign guarantee of Rs.12,980 crores to facilitate continuous maritime insurance coverages. The pool ensures that Indian trade continues to have access to affordable insurance for vessels carrying cargo from any international origin to Indian ports and vice-versa, even when transiting volatile maritime corridors.
With increased global volatility and geopolitical instability, maritime trade has been impacted with increased risk of losses for cargo and vessels resulting in increased insurance costs and uncertainty in continuous availability of insurance. Further, there is high dependence of Indian vessels on International Group of Protection and Indemnity (IGP&I) Club for P&I insurance covering third-party liabilities like Oil pollution liability, Wreck removal, Cargo damage, Crew injury and repatriation, Collision liabilities and so on. Accordingly, there was a need for a domestic maritime risk covering pool to maintain sovereignty and continuity of trade in face of withdrawal of coverage due to sanctions or due to geopolitical tensions.
In the above backdrop, the Government has approved formation of ‘Bharat Maritime Insurance Pool’ (BMI pool) for Indian flagged or controlled vessels or vessels destined to or starting from India, backed by a sovereign guarantee. The pool would cover all maritime risks like Hull and Machinery, Cargo, P&I and War risk. The policies will be issued by insurers that are Pool members, using the combined underwriting capacity of the Pool, which would be around Rs.950 crore. The Pool will help to manage liability insurance locally, tailored to Indian Shipping conditions and regulatory requirements, develop specialized Marine underwriting, claims management and legal expertise within India.
Further, a Governing Body Constituted for this pool would oversee the formation and functioning of the pool. The rationale for providing a sovereign guarantee to the proposed domestic insurance entity is rooted in the objectives of strengthening self-reliance, sanctions resilience and ensuring greater sovereign control.
Japanese delegation explores shipbuilding, repair opportunities at Kandla
Kandla, Gujarat, India
April 14, 2026 (ANI)
The Japanese delegation exploring Kandla (Photo/ANI)
A Japanese delegation visited the Kandla region and held discussions with the Chairman of the Deendayal Port Authority (DPA), Kandla, to explore emerging opportunities in shipbuilding and ship repair activities, marking a renewed push toward expanding maritime cooperation and infrastructure development in the region.
The interaction focused on identifying potential areas of collaboration in the shipbuilding and repair ecosystem at Deendayal Port Authority, which is being positioned as a key maritime hub under India's long-term port-led development strategy.
The delegation showed interest in understanding the operational capacity, infrastructural readiness, and future expansion plans of the port-led industrial ecosystem.
During the meeting, Sushil Kumar Singh, IRSME, Chairman of DPA Kandla, presented a detailed overview of the upcoming projects at the port.
He highlighted that these initiatives are closely aligned with the broader objectives of the National Shipbuilding Mission and the Maritime India Vision, both of which aim to strengthen India's domestic shipbuilding capabilities, reduce dependency on foreign ship repair facilities, and enhance global competitiveness in the maritime sector.
He also outlined the strategic importance of Kandla in the western coastal corridor, noting its connectivity advantages, available land parcels, and growing industrial ecosystem that make it suitable for large-scale maritime infrastructure projects.
According to officials, the proposed developments are expected to attract investment, generate employment, and enhance ancillary industries linked to shipbuilding and marine services.
The Japanese delegation also undertook detailed site visits across multiple locations within the port operational area. They were given firsthand exposure to the proposed shipyard sites and surrounding development zones at Kandla and nearby Veera.
The visit aimed to assess the physical landscape, logistical connectivity, and feasibility of setting up shipbuilding and repair facilities in the region.
Officials familiar with the development said the engagement reflects growing international interest in India's maritime infrastructure push, particularly as the country seeks to position itself as a global hub for shipbuilding and repair services under the Make in India framework.
The collaboration discussions are also seen as part of broader efforts to bring advanced technology, expertise, and investment into India's port-led industrial development model.
The interaction concluded on a positive note, with both sides expressing interest in continuing discussions on potential investment opportunities and technical cooperation.
Further steps are expected to be explored after detailed feasibility assessments and follow-up consultations between the stakeholders.
https://www.aninews.in/news/world/a...repair-opportunities-at-kandla20260414222050/
Kandla, Gujarat, India
April 14, 2026 (ANI)
The Japanese delegation exploring Kandla (Photo/ANI)
A Japanese delegation visited the Kandla region and held discussions with the Chairman of the Deendayal Port Authority (DPA), Kandla, to explore emerging opportunities in shipbuilding and ship repair activities, marking a renewed push toward expanding maritime cooperation and infrastructure development in the region.
The interaction focused on identifying potential areas of collaboration in the shipbuilding and repair ecosystem at Deendayal Port Authority, which is being positioned as a key maritime hub under India's long-term port-led development strategy.
The delegation showed interest in understanding the operational capacity, infrastructural readiness, and future expansion plans of the port-led industrial ecosystem.
During the meeting, Sushil Kumar Singh, IRSME, Chairman of DPA Kandla, presented a detailed overview of the upcoming projects at the port.
He highlighted that these initiatives are closely aligned with the broader objectives of the National Shipbuilding Mission and the Maritime India Vision, both of which aim to strengthen India's domestic shipbuilding capabilities, reduce dependency on foreign ship repair facilities, and enhance global competitiveness in the maritime sector.
He also outlined the strategic importance of Kandla in the western coastal corridor, noting its connectivity advantages, available land parcels, and growing industrial ecosystem that make it suitable for large-scale maritime infrastructure projects.
According to officials, the proposed developments are expected to attract investment, generate employment, and enhance ancillary industries linked to shipbuilding and marine services.
The Japanese delegation also undertook detailed site visits across multiple locations within the port operational area. They were given firsthand exposure to the proposed shipyard sites and surrounding development zones at Kandla and nearby Veera.
The visit aimed to assess the physical landscape, logistical connectivity, and feasibility of setting up shipbuilding and repair facilities in the region.
Officials familiar with the development said the engagement reflects growing international interest in India's maritime infrastructure push, particularly as the country seeks to position itself as a global hub for shipbuilding and repair services under the Make in India framework.
The collaboration discussions are also seen as part of broader efforts to bring advanced technology, expertise, and investment into India's port-led industrial development model.
The interaction concluded on a positive note, with both sides expressing interest in continuing discussions on potential investment opportunities and technical cooperation.
Further steps are expected to be explored after detailed feasibility assessments and follow-up consultations between the stakeholders.
https://www.aninews.in/news/world/a...repair-opportunities-at-kandla20260414222050/
India sets course to procure 437 vessels by 2042
India is planning to acquire 437 vessels to increase its domestic fleet. Some vessels will be built in India, while specialized ones like VLGCs and VLCCs will involve imports initially. This strategy aims to develop local shipbuilding technology and skills. The procurement plan extends until...
Japan's Mitsui OSK Lines, world’s second-largest ship owner by fleet size, eyes shipbuilding in India and investments in terminals & logistics
By P. Manoj
Last Updated: May 13, 2026, 10:12:00 AM IST
Japanese Co Mitsui OSK Lines President and CEO Jotaro Tamura
Japan's Mitsui OSK Lines (MOL), the world's second-largest ship owner by fleet size, is keen to build ships in India and is exploring opportunities to develop roll-on, roll-off (RORO) terminals as well as strengthen inland logistics services to expand its leadership in shipping automobiles from the country, said president and CEO Jotaro Tamura.
"We are definitely interested in building ships in India," he said in an interview on Tuesday, adding, "We are open and positive." With 13 vessels flying the Indian flag, MOL is currently the fourth-largest ship owner operating in the country.
Alternatives for Asia
"We have to understand how things will happen in reality in India and then build confidence that we can move together. Currently, shipbuilding is concentrated in China, Korea and Japan. From a global perspective, it is positive to have another country developing shipbuilding capabilities," noted Tamura, who took over as the company's president and chief executive officer last month.
"It is a matter of understanding the detailed plan, how it works, and then deciding how we can make progress on shipbuilding in India," he added.
Referring to the feeder container ships ordered by French shipping line CMA CGM at Cochin Shipyard, Tamura called it a "good start" but said MOL would need to evaluate the types of ships suitable for the current stage of India's shipbuilding industry.
Indian shipbuilders, according to Tamura, need to take "the right steps".
"You can't simply jump to very high-specification or technically complex vessels from the beginning. I don't expect Indian yards to compete immediately with high-spec ships built in other countries. Over time, they will develop those capabilities," he added.
"We have to understand their plans, what they aim to achieve in the early stages, and whether it aligns with our interests," he said, adding building bulk carriers could be a practical starting point to boost ties between Indian shipyards and global fleet owners.
In April, Ravi Mehrotra, founder and executive chairman of Foresight Group, which is developing a port at Bhavnagar, had told ET that MOL plans to set up a RORO terminal at the port to support automobile exports.
MOL currently uses ports at Mundra, Pipavav and Mumbai on the west coast, and Ennore and Chennai on the east coast for car exports from India, where it commands around 50% market share.
"We are the biggest player in India's car export transport market. Car manufacturing in India is growing, not only for the domestic market but also for exports, and we want to do more," Tamura said.
Scope to develop logistics
"To support our customers, it is not just shipping but also domestic logistics, because logistics infrastructure in India still has scope for development. We are exploring becoming more of a logistics solutions provider for our customers, and terminals and inland logistics are areas we want to enter," he added.
Calling the country a "priority" region in MOL's corporate growth strategy, Tamura said that the company would continue looking for opportunities to register more ships under the Indian flag.
"The breakthrough we achieved in the last couple of years through Indian-flag vessels is a milestone, and we want to continue moving forward," he said, acknowledging the government's subsidy scheme aimed at promoting Indian flagging.
Last week, the ministry of ports, shipping and waterways extended the scheme by five more years after the expiry of its initial term.
"Based on the scheme, we have made progress. So, the extension is positive. It's good and we want to continue benefiting from it," Tamura said.
Japan's Mitsui OSK Lines, world’s second-largest ship owner by fleet size, eyes shipbuilding in India and investments in terminals & logistics
By P. Manoj
Last Updated: May 13, 2026, 10:12:00 AM IST
Synopsis
Japan's Mitsui OSK Lines plans to build ships in India. The company is also exploring opportunities for roll-on, roll-off terminals. MOL aims to strengthen inland logistics services. This expansion will support its leadership in shipping automobiles from India. The company sees India as a priority region for growth.
Japan's Mitsui OSK Lines plans to build ships in India. The company is also exploring opportunities for roll-on, roll-off terminals. MOL aims to strengthen inland logistics services. This expansion will support its leadership in shipping automobiles from India. The company sees India as a priority region for growth.
Japanese Co Mitsui OSK Lines President and CEO Jotaro Tamura
Japan's Mitsui OSK Lines (MOL), the world's second-largest ship owner by fleet size, is keen to build ships in India and is exploring opportunities to develop roll-on, roll-off (RORO) terminals as well as strengthen inland logistics services to expand its leadership in shipping automobiles from the country, said president and CEO Jotaro Tamura.
"We are definitely interested in building ships in India," he said in an interview on Tuesday, adding, "We are open and positive." With 13 vessels flying the Indian flag, MOL is currently the fourth-largest ship owner operating in the country.
Alternatives for Asia
"We have to understand how things will happen in reality in India and then build confidence that we can move together. Currently, shipbuilding is concentrated in China, Korea and Japan. From a global perspective, it is positive to have another country developing shipbuilding capabilities," noted Tamura, who took over as the company's president and chief executive officer last month.
"It is a matter of understanding the detailed plan, how it works, and then deciding how we can make progress on shipbuilding in India," he added.
Referring to the feeder container ships ordered by French shipping line CMA CGM at Cochin Shipyard, Tamura called it a "good start" but said MOL would need to evaluate the types of ships suitable for the current stage of India's shipbuilding industry.
Indian shipbuilders, according to Tamura, need to take "the right steps".
"You can't simply jump to very high-specification or technically complex vessels from the beginning. I don't expect Indian yards to compete immediately with high-spec ships built in other countries. Over time, they will develop those capabilities," he added.
"We have to understand their plans, what they aim to achieve in the early stages, and whether it aligns with our interests," he said, adding building bulk carriers could be a practical starting point to boost ties between Indian shipyards and global fleet owners.
In April, Ravi Mehrotra, founder and executive chairman of Foresight Group, which is developing a port at Bhavnagar, had told ET that MOL plans to set up a RORO terminal at the port to support automobile exports.
MOL currently uses ports at Mundra, Pipavav and Mumbai on the west coast, and Ennore and Chennai on the east coast for car exports from India, where it commands around 50% market share.
"We are the biggest player in India's car export transport market. Car manufacturing in India is growing, not only for the domestic market but also for exports, and we want to do more," Tamura said.
Scope to develop logistics
"To support our customers, it is not just shipping but also domestic logistics, because logistics infrastructure in India still has scope for development. We are exploring becoming more of a logistics solutions provider for our customers, and terminals and inland logistics are areas we want to enter," he added.
Calling the country a "priority" region in MOL's corporate growth strategy, Tamura said that the company would continue looking for opportunities to register more ships under the Indian flag.
"The breakthrough we achieved in the last couple of years through Indian-flag vessels is a milestone, and we want to continue moving forward," he said, acknowledging the government's subsidy scheme aimed at promoting Indian flagging.
Last week, the ministry of ports, shipping and waterways extended the scheme by five more years after the expiry of its initial term.
"Based on the scheme, we have made progress. So, the extension is positive. It's good and we want to continue benefiting from it," Tamura said.
Japan's Mitsui OSK Lines, world’s second-largest ship owner by fleet size, eyes shipbuilding in India and investments in terminals & logistics
GRSE Lays Keel for Fourth German Export Vessel, Reinforcing India's Global Shipbuilding Push
By Vijay Yadav
30 May 2026
GRSE has laid the keel for the fourth Multi-Purpose Vessel being built for Germany's Carsten Rehder, marking a major milestone in its largest commercial shipbuilding export project.
Kolkata, May 30, 2026: Garden Reach Shipbuilders & Engineers (GRSE) Ltd has achieved another significant milestone in its international shipbuilding programme by laying the keel of the fourth vessel under the Multi-Purpose Vessel (MPV) project for Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG.
The development marks steady progress in GRSE's largest-ever commercial shipbuilding export order and further strengthens the shipyard's position in the global maritime market. The project is a key example of India's "Make in India, Make for the World" initiative, showcasing the country's growing expertise in building advanced commercial vessels for international customers.
The keel-laying ceremony was attended by Shri M. Venkatesh Murthy, Executive Director (Commercial Shipbuilding & Supply Chain Management), GRSE, alongside senior officials from the shipyard, representatives of the German shipping company, and officials from international classification society DNV.
GRSE Lays Keel for Fourth German Export Vessel, Reinforcing India's Global Shipbuilding Push
By Vijay Yadav
30 May 2026
GRSE has laid the keel for the fourth Multi-Purpose Vessel being built for Germany's Carsten Rehder, marking a major milestone in its largest commercial shipbuilding export project.
Kolkata, May 30, 2026: Garden Reach Shipbuilders & Engineers (GRSE) Ltd has achieved another significant milestone in its international shipbuilding programme by laying the keel of the fourth vessel under the Multi-Purpose Vessel (MPV) project for Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG.
The development marks steady progress in GRSE's largest-ever commercial shipbuilding export order and further strengthens the shipyard's position in the global maritime market. The project is a key example of India's "Make in India, Make for the World" initiative, showcasing the country's growing expertise in building advanced commercial vessels for international customers.
The keel-laying ceremony was attended by Shri M. Venkatesh Murthy, Executive Director (Commercial Shipbuilding & Supply Chain Management), GRSE, alongside senior officials from the shipyard, representatives of the German shipping company, and officials from international classification society DNV.
GRSE Lays Keel for Fourth German Export Vessel, Reinforcing India's Global Shipbuilding Push