Strengthening its India focus, French shipping giant CMA CGM has announced a $360 million investment over six years. The company also revealed plans to expand its maritime and digital footprint in the country.
The group has signed a final shipbuilding contract with Cochin Shipyard Limited (CSL) for six LNG-powered containerships with a capacity of 1,700 TEUs each. Each vessel will cost $60 million. The first delivery is expected in three years, followed by two ships per year thereafter.
CMA CGM also plans to recruit up to 1,500 Indian seafarers by the end of 2026. So far, the company has already hired 1,000 Indian seafarers.
In the presence of the Minister of State for Ports, Shipping and Waterways, Shantanu Thakur, in New Delhi, Chairman and CEO Rodolphe Saadé said the group aims to deepen its four-decade-long partnership with India. The company is exploring expansion in container manufacturing and ship recycling. This is in line with India’s Maritime Vision 2047.
The group is also looking to collaborate with Indian stakeholders to strengthen domestic container manufacturing by promoting sustainable ship recycling and enhancing shipping capabilities.
On the sidelines of the Indian AI Summit, CMA CGM announced it will expand its innovation presence in India. In partnership with Capgemini, the company has set up a dedicated R&D hub. This hub will help develop AI-driven and digital solutions to improve maritime operations, port efficiency, logistics, and customer experience.
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