A high-level delegation, led by T K Ramachandran, Secretary of the Ministry of Ports, Shipping and Waterways, recently returned from South Korea, where they visited leading shipyards to understand the construction methods and processes used by the world’s second-largest shipbuilding nation. The delegation also engaged in discussions about potential collaborations and joint ventures between India and South Korea.

Ramachandran was accompanied by R Lakshmanan, Joint Secretary at the Ministry of Ports, Shipping and Waterways, Madhu Nair, Chairman and Managing Director of Cochin Shipyard, and Capt B K Tyagi, Chairman and Managing Director of the Shipping Corporation of India.

An official stated that the meetings with top officials from South Korean shipyards were very positive, with the South Koreans expressing strong interest in forging collaborations with Indian yards. The official added that formal agreements might be signed when Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, visits South Korea in March the following year.

Representatives from Hanwa Ocean (formerly Daewoo Shipbuilding & Marine Engineering Co) also took part in a meeting on July 4, organised by the Ministry of Ports, Shipping and Waterways, which focused on rejuvenating India’s shipbuilding sector.

Executives from the state-owned Export–Import Bank of Korea (KEXIM) visited India in late October to explore possible collaborations in the maritime sector, including shipbuilding and repairs.

While Indian shipyards have the expertise to build conventional ships of smaller and medium sizes, they are yet to venture into building large vessels such as Very Large Crude Carriers (VLCCs), Capesize bulk carriers, Suezmax tankers, and large container vessels, mainly due to limited infrastructure, according to sources in the shipbuilding industry.

Moreover, the construction time for vessels in Indian shipyards is considerably longer compared to South Korean or Japanese shipyards. Indian yards also lack the technical expertise to build specialized ships, such as LNG/LPG carriers, Floating Storage Regasification Units (FSRUs), and car carriers. Additionally, the procurement lead time for major equipment and machinery is longer in India, which adds to the construction timeline and reduces profit margins.

One official suggested that the feasibility of deeper engagement and mutual collaboration with South Korea's shipbuilding industry should be explored, given the urgent need to modernize India's shipbuilding capacity. The official also noted that potential areas for collaboration could include ship design, real-time planning, and milestone monitoring tools, as well as improvements in production management, processes simplification, automation, digitalization in welding, training, infrastructure expansion, technology transfer for specialized vessels, establishing ancillary units, and promoting green shipping.