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Adani to start shipbuilding at Mundra Port

9 Jul 2024

The decision is well-timed because fleet owners worldwide are looking for alternatives, and the ship-building yards in South Korea, Japan, and China are booked until 2028.

India ranks 20th globally in commercial shipbuilding with a 0.05% market share. Its goal is to be among the top ten shipbuilders towards the Maritime India Vision 2030 and scale up to the top five by 2047. Befitting this ambition, Adani has planned to create a shipbuilding site at its flagship port at Mundra.

Adani recently got approval from the Ministry of Environment, Forest and Climate change for a ₹45,000 crore expansion plan for Mundra Port. This gives the conglomerate the required resources to start supplying new vessels in a starved industry.

The global shipping industry is shifting its focus to green ships to meet its decarbonisation goals. Over the next 30 years, approximately 50,000 green ships will need to be manufactured to replace the existing fleet.

Global shipyards outbid Indian shipbuilders by up to 35%. Even governmental aids in taxes and duties fail to reduce this cost difference.

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