Hapag-Lloyd signs Letter of Intent with India to boost maritime cooperation
Hapag-Lloyd and the Government of India have signed a Letter of Intent (LOI) in Mumbai to strengthen maritime cooperation and support India’s shipping and logistics sector. The agreement focuses on ship reflagging, sustainable ship recycling, and infrastructure development at Vadhavan Port.
Key Highlights:
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Reflagging: Hapag-Lloyd may reflag up to four vessels under the Indian registry, subject to further assessment and regulatory approvals.
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Sustainable Ship Recycling: Collaboration to develop a recycling ecosystem in India aligned with EU Ship Recycling Regulation (SRR), potentially supporting up to 100 vessels.
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Vadhavan Port Development: Hapag-Lloyd will provide expertise in terminal and shipping operations to support the upcoming strategic port project, enhancing India’s maritime logistics network.
Hapag-Lloyd India Overview:
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2,800+ employees across four business units
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17 offices nationwide supporting operations and customers
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6 dedicated liner services connecting India to global trade lanes
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Strategic investment in J M Baxi Ports & Logistics Limited, which handles 3.2 million TEU annually with ~7,000 employees
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Strategy 2030 target: grow volumes handled in India to ~3 million TEU by 2030
CEO Statements:
Rolf Habben Jansen, Hapag-Lloyd CEO, said: “India is a key growth market. This LOI strengthens our relationship and supports India’s ambitions for sustainable shipping and global connectivity.”
Dheeraj Bhatia, Hapag-Lloyd Executive Board member, added: “Projects like Vadhavan Port can significantly enhance India’s role in global supply chains. We look forward to helping build efficient, future-ready port infrastructure.”
This cooperation marks a significant step in Hapag-Lloyd’s long-standing commitment to India, expanding its maritime footprint while supporting sustainable and efficient shipping solutions.
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