News
CMA CGM has signed a letter of intent (LoI) with Cochin Shipyard to build six LNG-powered feeder containerships, 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 in total, or some $50 million per unit. A formal contract outlining technical and commercial terms will follow in the coming months, the Mumbai-listed builder said in a filing.
A design is expected to draw on an existing HD Hyundai Heavy Industries platform, following Cochin Shipyard’s cooperation agreement signed with the South Korean shipbuilder earlier this year.
The LoI is foreseen to further vitalize the Indian shipbuilding industry, which has worked hard to win contracts mainly from major shipping lines.
