India’s Potential as a Green Shipbuilding Hub: Maritime Expert: Rediff Moneynews

Singapore, Oct 2 (PTI) India has “great potential” to become a green shipbuilding hub, supported by the government’s strong focus on alternative fuels and renewable energy, a maritime industry expert said on Wednesday.

Modernization and modernization of Indian shipyards is ongoing, while older yards are being assessed for reopening and increasing green shipbuilding capacity, given the strong growth in global demand, said Cristina Saenz de Santa Maria, regional director for Southeast Asia, Pacific and India, Maritime at DNV, a Norwegian provider of testing, certification and technical consulting services based in Norway.

“We see huge potential in India’s emergence as a green shipbuilding hub, driven by the government’s strong push towards alternative fuels and renewable energy such as biofuels and wind power,” said an industry veteran.

The Indian government is encouraging investment and technology transfer from Japanese and Korean shipyards to create shipbuilding and repair clusters in the country. This comes at a time when most traditional shipyards in Asia are fully staffed and demand for green maritime assets is growing rapidly ahead of the phased elimination of greenhouse gas emissions by 2050, as agreed by the International Maritime Organization (IMO).

“Shipowners are also investing in new, environmentally friendly assets and looking for competitively priced shipyard space,” Santa Maria said, sharing her readings on India’s overall decarbonization plan and DNV’s role.

DNV operates in over 100 countries with a maritime network of over 3,400 specialists worldwide, including in India.

According to Santa Maria, DNV published a white paper in 2023 titled ‘India’s Green Coastal Shipping Agenda’ which explored India’s potential to deliver a sustainable future for its maritime industry.

A document commissioned by the Consulate General of the Kingdom of Norway in Mumbai provided insight into opportunities and recommendations on how coastal shipping can reduce India’s carbon emissions and facilitate the transition to green shipping, building on the successful experiences of Norway’s Green Shipping Program.

The recently signed agreement with the Mumbai Port Sustainability Foundation gives DNV a greater role in decarbonization efforts that will provide world-class facilities to support sustainable ships visiting India, she added.

The pact “represents a significant step forward in developing and modernizing port infrastructure to support the transition to cleaner energy sources,” she said.

Modernization of India’s port infrastructure in terms of clean marine fuel and support vessels operating on hybrid models with access to alternative fuels is also underway. However, this is a long-term fuel development plan that must begin in the coming years.

The Indian government has stressed the urgency of being among the top 10 ship-producing countries by 2030 and among the top five by 2047, she said, adding that India has emerged as one of the stable markets for DNV.

DNV has also expanded its maritime consulting unit in India to provide local clients with better access to a global pool of maritime consulting expertise. This includes decarbonization support services, digitalization, security, risk management and compliance consulting, as well as ESG (environmental, social and governance).

At the group level, DNV established a global shared services center covering HR, IT and finance in Pune a year ago, with maritime offices operating in the major cities of Mumbai, Cochin, Vizag, Kandla and Chennai.

DNV’s India workforce has grown exponentially and now stands at over 900 from 350 employees four years ago. The group will evaluate further pan-India expansion to support new contracts and businesses, it said.

“We also expect to develop a market for new marine technologies that have not yet been implemented in India. “With DNV’s 160 years of experience as a trusted partner to the maritime industry, we are well-positioned to help the Indian shipping industry prepare to achieve its net zero goals and the country’s Vision 2047,” Santa Maria said.