CMA CGM and MSC Beat a Path to India Following in Maersk’s Footsteps

India’s efforts to become a world class shipbuilder are taking additional steps forward with media reports that executives from both MSC Mediterranean Shipping Company and CMA CGM Group are holding talks with the industry. It follows the news yesterday, February 17, that Maersk has entered into an agreement with Cochin Shipyard first for repairs of smaller vessels of the fleet and targeting shipbuilding.

Indian Prime Minister Narendra Modi last month spoke of the value of the planned investments into the sector and expected boosts to the economy. He has called for a mega cluster to focus on shipbuilding to take the country to a top 10 shipbuilding by the end of the decade and a top 5 by 2047. Modi said the business could be worth $62 billion by 2047.

The new budget for the country includes a Maritime Development Fund to provide financial assistance and level the costs for India’s shipbuilders to make the i…