HD Hyundai Partners with India’s Cochin Shipyard
In a significant move to enhance its presence in the Indian shipbuilding market, HD Hyundai has signed a comprehensive Memorandum of Understanding (MOU) with Cochin Shipyard Limited (CSL). This partnership, formalized on July 4, 2025, aims to foster long-term cooperation in ship design, equipment support, and technical collaboration, marking HD Hyundai’s strategic entry into India’s maritime sector.
Strengthening Maritime Collaboration
HD Korea Shipbuilding & Offshore Engineering, the parent company of HD Hyundai, announced the partnership with CSL, India’s largest state-owned shipbuilder, which is predominantly owned by the Indian government. Located in Kochi, Kerala, CSL boasts extensive capabilities in designing, constructing, and repairing a diverse range of vessels, including commercial ships and naval carriers. Over the past five years, CSL has successfully delivered 70 vessels, demonstrating its robust operational capacity.
The MOU outlines a framework for strategic cooperation that includes design and procurement support, technical collaboration to boost productivity, and enhanced training systems for workforce development. Both companies are committed to exploring new shipbuilding orders in both Indian and international markets, aligning their efforts with India’s ambitious maritime development plans, such as the ‘Maritime India Vision 2030’ and ‘Maritime Amrit Kaal Vision 2047.’ These initiatives aim to position India as a global hub for shipping and shipbuilding, with substantial government investment to support the sector.
India’s shipbuilding industry has experienced remarkable growth, with market research indicating an increase from approximately USD 90 million in 2022 to over USD 1.12 billion by 2024. This growth trajectory is expected to continue, with an annual growth rate exceeding 60% projected until 2033. Through this partnership, HD Hyundai seeks to capitalize on this expanding market while enhancing its global competitiveness.
Future Prospects and Global Expansion
HD Hyundai officials expressed optimism about the collaboration, stating it will serve as a catalyst for both companies to achieve new milestones and accelerate India’s national maritime vision. By leveraging HD Hyundai’s technological expertise, the partnership aims to bolster CSL’s global competitiveness and explore opportunities for mutual growth with Korean equipment suppliers.
In addition to its collaboration with CSL, HD Hyundai is actively expanding its global network. Earlier this year, the company signed an MOU with Huntington Ingalls Industries, the largest defense shipbuilder in the United States, and established a strategic partnership with Edison Chouest Offshore. Furthermore, HD Hyundai is pursuing synergies in the global shipbuilding sector, including defense cooperation with Peru’s state-run SIMA shipyard.
This partnership not only signifies a pivotal moment for HD Hyundai in India but also underscores the growing importance of international collaboration in the shipbuilding industry, as countries seek to enhance their maritime capabilities and infrastructure.
