Shipping line has agreed to explore reflagging vessels under Indian registry and collaborate on port infrastructure development
Hapag-Lloyd and representatives of the government of India have signed three letters of intent (LOI) to deepen maritime cooperation and support the continued development of India’s shipping and logistics sector.
The LOI was signed in Mumbai during a meeting between Rolf Habben Jansen, CEO of Hapag-Lloyd, and Sarbananda Sonowal, India’s minister of ports, shipping and waterways.
The agreement outlines areas of potential cooperation including ship reflagging, the development of sustainable ship recycling capacity, and strategic collaboration related to the development of Vadhavan Port.
“India is one of the most important growth markets in global trade and a key strategic partner for Hapag-Lloyd,” said Habben Jansen.
“Through this letter of intent, we want to further strengthen our long-standing relationships with India and support the country’s ambitions to expand its maritime capabilities, enhance global connectivity and advance sustainable shipping.”
As part of the LOI, Hapag-Lloyd intends to explore the reflagging of up to four vessels under the Indian registry.
The LOI also includes cooperation on the development of a ship recycling ecosystem in India, and foresees discussions on a strategic cooperation framework related to the development of Vadhavan Port in collaboration with the Jawaharlal Nehru Port Authority.
“India’s port and logistics infrastructure is developing at remarkable speed and scale,” said Dheeraj Bhatia, CEO of Hanseatic Global Terminals and member of the Hapag-Lloyd executive board.
“Projects such as Vadhavan Port have the potential to significantly strengthen India’s role in global supply chains.
”We look forward to help developing an efficient, future-ready port infrastructure in India,” he added.
