“MOL eyes India for mid-range tanker building to lower costs and widen shipbuilding options.”

Mitsui O.S.K. Lines Eyes Vessel Orders with Indian Shipyards to Back ‘Make in India’                                                                                                                              

Japanese shipping major Mitsui O.S.K. Lines (MOL) is considering placing vessel orders with Indian shipyards such as Cochin Shipyard Ltd as part of its strategy to diversify beyond Korea, China, and Japan. The move aligns with India’s renewed push to strengthen its commercial shipbuilding capacity, supported by a proposed ₹25,000 crore Maritime Development Fund and integrated shipbuilding clusters. Captain Jayaraman, Executive Officer for South Asia & Middle East at MOL, said the company seeks more options to enhance competitiveness, reduce costs, and support the “Make in India” initiative. Initial discussions with Indian shipyards focus on simpler vessels like mid-range product tankers, with long-term plans to build more complex ships, including ethane carriers, within the next decade. MOL has been in talks with Cochin Shipyard for over three years, but capacity constraints have delayed progress. Partnerships such as Cochin’s MoU with HD Korea Shipbuilding are expected to boost confidence in India’s ability to deliver quality vessels on time.