Page 3 - Shipbuilding

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

Budget 2025: Shipbuilding gets big push from govt eyeing global trade

The Maritime Development Fund announced by the FM will have a corpus of Rs 25,000 cr; besides, tax breaks and easier infra credit access to shipbuilders aim to reinvigorate the shipbuilding industry

FM announces Rs 25K cr Maritime Development Fund to boost shipping

Sitharaman announces shipbreaking credit note scheme, Maritime Development Fund

Why shipbuilding needs a sea change to fulfil India's 2047 dreams

India paid $109 billion in sea freight to foreign operators in 2021-22, and last year stood vulnerable to international price volatility and impact of sanctions on Russia during the geopolitical crise

India can emerge as a hub for green shipbuilding: Maritime expert

India has "great potential" to emerge as a hub for green shipbuilding, backed by the government's strong focus on alternative fuels and renewable energy, a maritime industry expert said on Wednesday. Modernisation and upgradation of Indian shipyards is in progress, while older dockyards are being assessed for reopening and adding more capacities for green shipbuilding given a strong pickup in global demand, said Cristina Saenz de Santa Maria, Regional Manager South East Asia, Pacific & India, Maritime at DNV, a Norway-based testing, certification and technical advisory services provider. "We see great potential in India emerging as a hub for green shipbuilding, driven by its government's strong focus on alternative fuels and renewable energy like biofuels and wind power," said the industry veteran. The Indian government is encouraging investments and technology transfer from Japanese and Korean shipyards to establish shipbuilding and ship repair clusters in the country. This comes

Ship-building clusters to come up in 5 states, says Sarbananda Sonowal

Ship-building and ship repair clusters will be established in five states including Gujarat, Andhra Pradesh and Maharashtra, Union Minister for Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal said on Wednesday. Recognizing the strategic importance of shipbuilding and ship repair, the ministry is developing dedicated clusters in Maharashtra, Kerala, Andhra Pradesh, Odisha, and Gujarat, Sonowal said while highlighting the major accomplishments of his ministry in the first 100 days of the third term of the NDA government. In the next five years, the ministry projects container handling to reach an impressive 40 million TEUs (twenty-foot equivalent unit), creating 2 million job opportunities across the country. Jawaharlal Nehru Port Authority (JNPA) alone will scale up its handling capacity from the current 6.6 million TEUs to 10 million, he added. The minister also said that 3,900 acres of land has been allotted in Deendayal Port Authority (DPA) and V. O. Chidambaranar Port ..

What does the global shipbuilding industry look like, and where is India?

India's shipbuilding industry aims to become one of the top ten by 2030, here is where India stands compared to the rest of the world

India seeks investments from South Korea & Japan for shipbuilding clusters

India is seeking investments and technology transfer from South Korea and Japan to establish shipbuilding and ship repair clusters to promote the domestic shipping supply chain in the country, according to a senior government official. Currently, India holds less than 1 per cent of the global shipbuilding market, dominated by China, South Korea, and Japan. "We are looking at South Korea and Japan for investments and technology transfer for establishing shipbuilding and ship repair clusters in India," TK Ramachandran, Secretary in Ministry of Ports, Shipping and Waterways (MoPSW), told a group of journalists here. Ramachandran was in Goa to participate in the 20th Maritime State Development Council (MSDC), where plans for a mega shipbuilding park, spanning multiple states, were discussed. "We have communicated to them (South Korea and Japan) that you come with your technology and investments, we will provide you land for setting up shipbuilding and ship repair clusters," he ...

Centre in talks with coastal states on shipbuilding clusters in India

New maritime arbitration centre, policy think tank to be set up, says ministry

India to approve Rs 25,000 crore for shipbuilding and infrastructure

India's Maritime Development Fund (MDF) is likely to receive a Rs 25,000 crore boost to support low-cost, long-term indigenous manufacturing projects

US Navy shipbuilder Austal USA agrees to pay $24 mn to settle fraud probe

Austal USA, an Alabama-based shipbuilder that makes vessels for the US Navy, has admitted wrongdoing and agreed to pay a USD 24 million fine to settle an accounting fraud investigation, the US Department of Justice announced Tuesday. From 2013 through July 2016, Austal USA conspired to mislead shareholders and investors about the company's financial condition, the department said. The company pleaded guilty to one count of securities fraud and one count of obstruction of a federal audit. Austal USA engaged in a years-long scheme to illegally inflate its profits on ships the company was building for the US Navy, reporting false financial results to investors, lenders, and its auditors, Nicole M. Argentieri, principal deputy assistant attorney general and head of the Justice Department's Criminal Division, said in a statement. Austal USA LLC is a subsidiary of Australia-based Austal Limited and builds littoral combat ships for the Navy that are designed to operate in shallow coastal .

New shipbuilding scheme to incentivise Indian shipyards till 2035

Ministry of Ports, Shipping and Waterways (MoPSW) is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures, a senior government official has said. Ports, Shipping and Waterways Secretary T K Ramachandran further said with the new policy, India will endeavour to be among the top 10 shipbuilding nations by 2030 and the top five by 2047, from 22nd in the world at present. "Yes, this ministry is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures," he told PTI. Ramachandran also said global cruise major MSC Cruises, based out of Geneva, has expressed willingness to deploy their ships for domestic itinerary. He said MoPSW in coordination with Ministry of Petroleum and Natural Gas is planning to have a JV between Shipping Corporation of India (SCI) and oil marketing companies to own large tankers. "The model of ownership is still to be decided depending upon demand requirement

Govt will come out with new shipbuilding policy soon: Shipping Minister

The industry had shown several concerns about the policy, which are now being deliberated on by the ministry before it unveils the final policy

Gautam Adani to start shipbuilding at Mundra port amid global demand surge

The Adani Group's undisclosed shipbuilding initiative is embedded within Mundra Port's Rs 45,000 crore expansion plan, recently cleared by environmental authorities