Shri Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, spent two days in South Korea meeting shipbuilding and shipping leaders as part of India's effort to expand maritime cooperation under the country's Maritime Amrit Kaal Vision 2047.
The minister toured the HD Hyundai Heavy Industries shipyard in Ulsan on November 17, calling the visit productive. The shipyard, described by the Indian Embassy as the world's largest, covers 1,680 acres. He said India's fast-growing energy and shipping sectors, driven by the Make in India initiative and supported by a young population, offer what he called a "golden opportunity" for Korean shipyards to "Make in India for the World." He noted that nearly 20 percent of global vessels are expected to either arrive in or depart from India in the next fifteen years.
He also reviewed progress under an existing agreement with Cochin Shipyard Limited, saying plans for a block fabrication facility are expected to be finalised soon. According to the release, India's public-sector companies can procure as many as fifty-nine crude, LNG and ethane vessels.
The visit followed his meeting on November 16 with HD Hyundai Chairman Chung Ki-sun at the company's Global R&D Center in Seongnam. The delegation was briefed on HD Hyundai's ship design capabilities and smart shipyard operation systems. Discussions focused on how these technologies could support India's plans to expand its commercial fleet and strengthen domestic shipbuilding. HD Hyundai noted that India aims to increase its fleet from 1,500 to 2,500 vessels and invest USD 24 billion under the Maritime Amrit Kaal Vision, including USD 8 billion recently announced for fleet expansion.
Earlier on November 17, the minister met senior executives from major Korean shipping companies: An Byung-gil of Korea Ocean Business Corporation, Kim Sung-ick of SK Shipping, Seo Myung-deuk of H‑Line Shipping, and Sung Je-yong of Pan Ocean. He stressed that energy and shipping are tightly linked to India's economic growth. India's crude and gas imports, valued at more than USD 150 billion, move entirely by sea, yet only about 20 percent of this cargo is carried on Indian-flagged or Indian-owned vessels, the embassy said.
The minister also met Kim Hee-cheul, President and CEO of Hanwha Ocean, in Seoul. According to the embassy, he encouraged the company to look at opportunities emerging in India's shipbuilding sector under the Make in India initiative and said Indian public-sector companies are ready to work with Korean partners on manufacturing LNG and crude carriers.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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