France’s CMA CGM has signed a letter of intent with Cochin Shipyard Ltd (CSL) to build six LNG-powered feeder containerships, marking the first-ever order by a global liner operator at an Indian yard.
The 1,700 teu vessels are valued at around $300m in total. A formal shipbuilding contract outlining technical and commercial terms will follow in the coming months, the Mumbai-listed builder said in a filing.
“This is a mega order from a prominent European client,” Cochin Shipyard said, although shipbrokers have already linked the Rodolphe Saadé-led world’s third-largest container carrier to the deal.
Sources close to the deal suggest the design is expected to draw on an existing HD Hyundai Heavy Industries platform, following Cochin Shipyard’s cooperation agreement signed with the South Korean shipbuilder earlier this year.
The order represents a major breakthrough for India’s shipbuilding industry, long seeking to win contracts from major international carriers. It comes weeks after India’s Cabinet approved a multi-billion-dollar support package aimed at expanding the nation’s shipbuilding capacity and modernising domestic yards.
CMA CGM first announced plans to order containerships in India in May, as part of its broader regional growth strategy. The company has a 34-year presence in India, employing around 17,000 people, and has been expanding its footprint in terminals and logistics.
In recent months, the Marseille-headquartered liner has reflagged four containerships under the Indian flag and is investing in port infrastructure at Nhava Sheva Freeport Terminal (NSFT) near Mumbai and Mundra Port.
For Cochin Shipyard, established in 1972 and controlled by the Indian government, this is another step toward its goal of becoming a global shipbuilding hub. The yard secured its first containership contract in 2023 with Samskip, marking its entry into the liner segment.
Cochin is also collaborating with Maersk, the world’s second-largest containerline, under a memorandum of understanding signed earlier this year to explore ship repair and construction opportunities. The partnership is expected to see the first Maersk vessel undergo repairs at Cochin in 2025.
These initiatives align with India’s maritime vision to rank among the top 10 shipbuilding nations by 2030 and the top five by 2047. The country currently holds around 1% of the global shipbuilding market.
