CMA CGM, Cochin Shipyard to build 6 LNG vessels
French shipping giant CMA CGM is teaming up with Cochin Shipyard Limited (CSL) to build six eco-friendly, LNG-powered container vessels for $360 million.
Each ship costs about $60 million, and the first one should be ready in three years.
This deal builds on CMA CGM's ties with India that have been going strong for nearly 40 years.
CSL's order book rises to ₹23,000 crore
The first vessel is scheduled for delivery in 36 months, with two vessels to follow each year thereafter, and all six set to roll out within 66-72 months (conservatively: within 72 months).
This order bumps CSL's total order book to around ₹23,000 crore—a big win for Indian shipbuilding.
CMA CGM's vision for India
CMA CGM's CEO Rodolphe Saade is eyeing India for future container manufacturing and ship recycling—if it can be cost-competitive.
The Indian government is backing this vision too, putting aside ₹10,000 crore over five years to help make India a global player in container production.