Page 2 - Shipbuilding

TN secures investments worth ₹30,000 cr in shipbuilding sector: TRB Rajaa

Tamil Nadu has attracted investments worth Rs 30,000 crore to set up two shipyards in Tuticorin district, a move expected to see creation of around 55,000 jobs, Minister for Industries TRB Rajaa said on Saturday. The Minister recalled Chief Minister M K Stalin's comments at the TN Rising-Tuticorin conclave in August, where he pledged to esablsih a company to promote shipbuilding sector in the state. Following the announcement, State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and V O Chidambaranar Port Authority signed a Memorandum of Understanding in September, Rajaa said in a social media post on Saturday. "Today (September 20), a historic milestone has been achieved with the signing of two Ultra Mega MoUs to establish two world-class Greenfield commercial shipyards in Tamil Nadu, with an investment of Rs 30,000 crore and generating employment for 55,000 people," the DMK leader said. As per the first MoU, Cochin Shipyard Ltd will invest Rs 15,000 crore to set up a ...

PM Narendra Modi to launch maritime initiative in Gujarat on Saturday

Prime Minister Narendra Modi will unveil a series of shipping and shipbuilding projects in Gujarat, with investments exceeding Rs 66,000 crore and multiple public sector MoUs

India targets 5% share in global shipbuilding market by 2030, says MoS

Union minister Shantanu Thakur on Monday said the government has set a target of securing 5 per cent share of the global shipbuilding market by 2030 and developing 10 world-class shipyards with the support of public-private partnerships and international collaborations. India is moving towards becoming a global hub for sustainable shipbuilding, backed by policy reforms, technological innovation and strong industry-government collaboration, Thakur said, addressing via video conference the CII Conference in Goa on 'India's Shipbuilding Roadmap towards Maritime Amrit Kal Vision 2047'. "Shipbuilding is more than just an industry - it is a symbol of national strength and self-reliance. Our vision is to make India not just a participant, but a leader in sustainable shipbuilding, contributing to green growth, blue economy, and Atmanirbhar Bharat," the Minister of State for Ports, Shipping and Waterways said. "Our shipyard modernisation programme is ambitious yet achievable. We are targetin

Govt committed to positioning India as shipbuilding hub: Shantanu Thakur

The Minister of State for Ports, Shipping and Waterways was speaking at the opening day of the 14th edition of the INMEX SMM India, hosted here by Informa Markets

Centre to introduce ₹2000 crore insurance support for shipbuilders

The ₹20,000 crore shipbuilding cluster programme aims to enable a shipbuilding ecosystem in India by fiscal and policy support measures

We're creating a system for shipbuilding in India, says Sarbananda Sonowal

First phase [of Vadhavan port] is expected to be completed by 2029 and second by 2037, says Sonowal

Rheinmetall wants to take over shipbuilder Naval Vessels Luerssen: Report

The CEO of Rheinmetall, which aims to fill gaps through acquisitions, said earlier this month that the company was in talks with partners about investing in the naval business

BS Infra Summit: Shipbuilding and logistics to anchor India's maritime map

Maritime sector weathers global uncertainties despite disrupted demand

Mazagon Dock shares plunge 5% as Q1 profit drops; time to book profit?

Mazagon Dock shares fell 5 per cent after it reported a 35 per cent drop in its net profit during the first quarter of the current financial year

Why is China losing its shipbuilding dominance: Trump or global slowdown?

New ship orders for Chinese shipyards plunged 68 per cent year-on-year to 26.3 million deadweight tonnes (dwt) in the first six months of 2025, marking one of the steepest declines in recent years

Cochin Shipyard inks pact with Korea's KSOE to boost maritime cooperation

The MoU focuses on cooperation in several key areas, including joint exploration of new building opportunities in India and overseas, sharing of technical expertise, upskilling of the workforce, etc

Indian Navy gets stealth boost with second Project 17A frigate Udaygiri

With enhanced stealth features and state-of-the-art weapons and sensors, the P-17A ships are a significant upgrade from the previous P-17 class

GRSE shares rise 5% on global maritime push; stock up 85% in 1 month

Garden Reach Shipbuilders & Engineers' shares rose 5% as the company continued signing strategic agreements with multinational companies

Cochin Shipyard soars 13% on heavy volumes; zooms 100% from February low

Cochin Shipyard stock alert: Till 02:30 PM; a combined 21.52 million shares representing 8.2 per cent of total equity of Cochin Shipyard changed hands on the NSE and BSE.

BEL bags ₹537 crore in fresh defence orders for ship systems and upgrades

The fresh orders include shipborne communication systems, jammers, software, simulator upgrades, test rigs and spares, in addition to contracts signed earlier this quarter

Maharashtra govt approves shipbuilding policy to develop maritime infra

The Maharashtra government has approved a shipbuilding policy to develop the state's maritime infrastructure and promote ship repair and recycling activities, an official said on Saturday. The Maharashtra Shipbuilding, Ship Repair, and Ship Recycling Facility Development Policy 2025 was approved in the last cabinet meeting, and a Government Resolution (GR) was issued on Friday, he said. The decision is expected to boost the shipbuilding, repair, and recycling industries and attract new projects. The move will also help the central government earn valuable foreign exchange. Recognising the significant importance of the maritime sector in driving economic and industrial growth, the state has identified the need to develop foundational infrastructure in this domain. While the government has the Maharashtra Maritime Development Policy 2023 to regulate and develop small ports along the state's coastline, the new policy now has provisions specifically for shipbuilding, repair, and ...

Shipbuilding stock up 13% on heavy volumes on Friday; zooms 42% in 6 days

In three days, the stock price of Cochin Shipyard surged 30% on media reports, HD Hyundai & Cochin Shipyard is in talks for ₹ 10,000 crore project.

Garden Reach Shipbuilders share zooms 18% as Q4 profit more than doubles

Garden Reach Shipbuilders' profit more than doubled, or jumped 118.9 per cent year-on-year (Y-o-Y), to Rs 244 crore in Q4FY25, from Rs 112 crore in Q4FY24.

Govt approves policy to create 40,000 shipbuilding jobs in Maharashtra

The Maharashtra government on Tuesday approved a policy to transform the state into a major hub for building ships, undertaking their repair, recycling, and create a supportive ecosystem to develop skilled manpower for the key sector. Capital subsidy, financial assistance for skill development per projects and land at concessional rates or long-term leases to corporate entities interested in setting up facilities in the sector are key features of the policy approved by the state cabinet at its meeting in Mumbai. Ports Minister Nitesh Rane highlighted that India is surrounded by the sea on three sides and given its strategic importance in international trade, the Maharashtra government has resolved to transform the coastal state into a major centre for shipbuilding, repair, and recycling. "The state government has devised the Shipbuilding, Ship Repair, and Ship Recycling Policy, 2025. Given Maharashtra's strategic role in the maritime sector, a dedicated shipyard and recycling policy

Rs 40k-crore Sagarmala 2.0 to provide support for shipbuilding, repair

A new startup innovation scheme launched to boost maritime entrepreneurship