HD Hyundai partners with India’s Cochin Shipyard to boost global shipbuilding reach

HD Hyundai has signed a strategic memorandum of understanding (MoU) with India’s largest state-owned shipyard, Cochin Shipyard Limited (CSL), to provide shipbuilding technologies and talent development support, the company announced on Sunday. The agreement aims to strengthen both companies’ competitiveness in the global shipbuilding market.

Under the deal, HD Hyundai’s shipbuilding arm, HD Korea Shipbuilding & Offshore Engineering, will support CSL with design and procurement expertise while jointly exploring shipbuilding opportunities in India and abroad. The collaboration also includes education programmes to train skilled talent in advanced shipbuilding techniques.

Cochin Shipyard, majority-owned by the Indian Government, has delivered 70 vessels in the past five years, including naval and commercial ships. The partnership aligns with India’s maritime development strategy under the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047. The Indian Government has also created a USD 2.9 billion Maritime Development Fund to support growth.

India’s shipbuilding and repair market surged from USD 90 million in 2022 to USD 1.12 billion in 2024 and is expected to grow rapidly between now and 2033. HD Hyundai’s cooperation with CSL marks another milestone in its global expansion, following recent partnerships with US-based Huntington Ingalls Industries and Edison Chouest Offshore.