Hapag-Lloyd and India Forge Strategic Maritime Partnership

In a significant move to bolster India’s maritime capabilities, Hapag-Lloyd and the Government of India have signed a Letter of Intent (LOI) in Mumbai. This agreement underscores a shared commitment to enhancing maritime cooperation and driving growth within India’s shipping and logistics sector. The collaboration will focus on three key areas: ship reflagging, sustainable ship recycling, and the development of infrastructure at Vadhavan Port.

Key Initiatives:

* Ship Reflagging: Hapag-Lloyd is exploring the possibility of reflagging up to four vessels under the Indian registry, contingent upon successful assessments and regulatory approvals.
* Sustainable Ship Recycling: The partners will collaborate on establishing a robust ship recycling ecosystem in India that adheres to the EU Ship Recycling Regulation (SRR). This initiative has the potential to support the recycling of up to 100 vessels.
* Vadhavan Port Development: Hapag-Lloyd will contribute its expertise in terminal and shipping operations to support the development of the strategic Vadhavan Port project, thereby strengthening India’s maritime logistics network.

Hapag-Lloyd’s Presence in India:

Hapag-Lloyd has a substantial and growing footprint in India, with over 2,800 employees spread across 17 offices nationwide. The company operates six dedicated liner services connecting India to vital global trade routes. Further demonstrating its commitment, Hapag-Lloyd has made a strategic investment in J M Baxi Ports & Logistics Limited, a company that handles approximately 3.2 million TEU annually and employs around 7,000 individuals. In line with its “Strategy 2030,” Hapag-Lloyd aims to significantly expand its volumes handled in India, targeting approximately 3 million TEU by 2030.

Leadership Perspectives:

Rolf Habben Jansen, CEO of Hapag-Lloyd, commented, “India is a key growth market. This LOI strengthens our relationship and supports India’s ambitions for sustainable shipping and global connectivity.” Dheeraj Bhatia, a member of Hapag-Lloyd’s Executive Board, added, “Projects like Vadhavan Port can significantly enhance India’s role in global supply chains. We look forward to helping build efficient, future-ready port infrastructure.”

This cooperative venture marks a pivotal moment in Hapag-Lloyd’s enduring engagement with India, promising to expand its maritime operations while championing sustainable and efficient shipping solutions.

Hapag-Lloyd signs Letter of Intent with India to boost maritime cooperation