Hapag-Lloydand representatives of the Government of India have signed a Letter of Intent (LOI) aimed at deepening maritime cooperation and supporting the ongoing development of the country's shipping and logistics sector.
The agreement establishes possible areas of collaboration, including the reflagging of up to four vessels under the Indian flag, the development of sustainable ship recycling capabilities, and strategic cooperation for the development ofVadhavan Port, in collaboration with the Jawaharlal Nehru Port Authority.
The cooperation in ship recycling aims to ensure that vessels at the end of their useful life are recycled safely and responsibly at facilities that meet the highest environmental and safety standards, aligned with the EU Ship Recycling Regulation (SRR), with an estimated capacity for up to 100 vessels.
In addition, Hapag-Lloyd will provide its global expertise in maritime transport and terminal operations to contribute to the development of Vadhavan Port, a project expected to strengthen India's maritime logistics network.
Hapag-Lloyd has had solid relations with India for decades, connecting the country with global markets through dedicated liner services and an extensive international network. The company has more than 2,800 employees in India, 17 offices, 6 dedicated liner services, and a strategic investment inJ M Baxi Ports & Logistics Limited, which operates container terminals, depots, and rail services, handling approximately 3.2 million TEUs annually.
As part of its Strategy 2030, Hapag-Lloyd seeks to increase the volumes handled in the Indian region to around 3 million TEUs by 2030.