CSL bags $360 million order from French firm CMA CGM Group for 6 LNG-based vessels

New Delhi: Cochin Shipyard Limited (CSL) has bagged new shipbuilding orders worth around USD 360 million (around Rs 3,267 crore) from France-based CMA CGM Group to deliver six LNG-powered vessels.

With the latest win, the company's total order book has reached around Rs 23,000 crore.

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Cochin Shipyard and the France-based shipping and logistics player signed a supply agreement in the national capital on Wednesday, in the presence of Shantanu Thakur, Minister of State at the Ministry of Ports, Shipping and Waterways.

Speaking on this, CSL's Chairman and Managing Director (CMD) Jose V J said the first vessel is expected to be delivered within 36 months, by February 2029, followed by two vessels each year thereafter.

Sharing more details, he said the ships will be designed by Korea Maritime Consultants Co., Ltd. (KOMAC) and built at Cochin Shipyard's facility in Kerala.

Each LNG-powered containership will be of 1700-TEU (20-foot container equals) capacity and will cost around USD 60 million.

An official of Cochin Shipyard said that with the latest, orders, the company's current unexecuted order book has touch the level of Rs 23,000 crore.

A source involved in the deal shared This is the first time that CMA CGM Group has placed vessel orders to an Indian entity. It was usually sourcing vessels from China and Korea.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said: "I am pleased to be in India to deepen the strategic partnership, which has linked CMA CGM and India for nearly four decades. Today, we arestrengthening our shipbuilding cooperation with Cochin Shipyard through the signing of six LNG-poweredcontainer vessels."

When asked about plans related to developing containers in India, Saadé replied affirmatively.

"We are looking to expand our engagement in container manufacturingand ship recycling. This is fully aligned with Prime Minister Modi’s Maritime Vision 2047 to position Indiaas a major maritime nation. As corridors such as India–Middle East–Europe Economic Corridor (IMEC)develop, connecting India to the Middle East and Europe, CMA CGM stands ready to contribute to this newphase of global trade," he said.

Headquartered in Marseille, France, CMA CGM is a global player in sea, land, air and logistics solutions having presence in 177 countries. State-owned Cochin Shipyard is one of the leading shipbuilding and repair yard in India.

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