Cochin Shipyard Ltd and Drydocks World form joint venture to strengthen India’s ship repair industry
In a groundbreaking move, Drydocks World, a subsidiary of DP World, and Cochin Shipyard Limited (CSL) have officially inked a joint venture agreement aimed at operating and expanding the International Ship Repair Facility (ISRF) in Cochin. This strategic partnership builds upon a Memorandum of Understanding (MoU) signed during India Maritime Week 2025, where both entities expressed interest in collaborating on ship repair and allied maritime services. The newly formed 50:50 joint venture sets a precedent as the first public-private partnership in India’s ship repair sector.
Expanding Capacity and Strengthening Maritime Services Hub
Under this agreement, the joint venture will oversee the operations, consolidation, and expansion of the ISRF in Cochin. The enhanced facility aims to cater to a broader spectrum of vessels, meeting the increasing demands of Indian, regional, and international clientele. This move is expected to bolster Cochin’s position as a maritime services hub, paving the way for growth in ship repair, engineering, fabrication, and associated maritime services in Kerala.
Strengthening Bilateral Ties and Fostering Economic Growth
High-ranking officials from both India and the UAE have lauded this partnership as a significant milestone in fortifying the maritime relationship between the two nations. Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, emphasized the collaborative effort as a testament to the enduring ties between India and the UAE. The Assistant Foreign Minister for Advanced Science and Technology, UAE, Omran Sharaf Alhashimi, highlighted the industrial benefits arising from such collaborations, emphasizing the synergy between India’s maritime capabilities and the UAE’s global expertise.
Vision for the Future
The signing of the Joint Venture Agreement has garnered support from top officials, including Vijay Kumar, Secretary of the Ministry of Ports, Shipping & Waterways, who sees this partnership as a catalyst for India’s emergence as a global maritime powerhouse. Captain Rado Antolovic, CEO of Drydocks World, and Jose V J, Chairman and Managing Director of Cochin Shipyard Ltd., expressed optimism in the joint venture’s potential to elevate India’s ship repair industry to international standards.
Combining Expertise for Excellence
The collaboration between CSL and Drydocks World leverages CSL’s domestic experience in shipbuilding and repair with Drydocks World’s global proficiency in vessel repair, maintenance, and offshore engineering. With state-of-the-art facilities and a skilled workforce, the partnership is poised to set new benchmarks in quality, safety, and efficiency within the ship repair sector.
Looking Ahead
As Drydocks World and Cochin Shipyard Ltd. embark on this joint venture, both entities are committed to driving innovation, attracting foreign investments, and creating employment opportunities within the maritime industry. With a shared vision for excellence, the partnership aims to propel India’s ship repair capabilities to greater heights while contributing to the nation’s maritime ambitions.
By joining forces, Drydocks World and Cochin Shipyard are not only expanding a facility but also laying the groundwork for a dynamic and thriving maritime ecosystem in India.
