France’s CMA CGM has signed a letter of intent with Cochin Shipyard Ltd to build six LNG-powered feeder container ships, marking the first-ever order by a global liner operator at an Indian yard. The 1,700 TEU vessels are valued at around $300 million. The order follows meetings at CMA CGM’s headquarters in France last February, including a presentation by President Rodolphe Saadé to Prime Minister Narendra Modi and French President Emmanuel Macron. A letter of intent was signed on Tuesday with a formal shipbuilding contract outlining technical and commercial terms to follow in the coming months. India’s maritime vision is to rank among the top 10 shipbuilding nations by 2030 and the top five by 2047. The country currently holds around one percent of the global shipbuilding market.
