Secretary updates investors at Singapore Maritime Week
India’s ports are transforming from cargo gateways into integrated logistics and industrial hubs, supported by public–private partnerships and global best practices, Ministry of Ports, Shipping and Waterways Secretary Vijay Kumar told delegates at the Singapore Maritime Week (SMW) 2026 on 22 April.
In an update to some 200 investors and industry stakeholders during a roundtable held at the SMW 2026, he pointed out, “India is steadily – and decisively – moving in the direction” to be in the best positioned to sustain growth, attract investment, and integrate into global value chains.
He shared the growth reported by Indian ports, where capacity has been doubled, and the next frontier is to have world-class efficiency and transshipment. Cargo handling capacity has doubled since 2013–14, from 1,400 MTPA to 2,771 million tonnes per annum (MTPA) with a target of 3,500 MTPA by 2030 and 10,000 MTPA by 2047. In FY 2025–26, India’s major ports handled over 915 million tonnes – the highest ever – registering over 7% growth.
Kumar also highlighted changes coming up in the Indian shipping building sector. A national container line is being formed, energy fleet is being expanded through joint venture companies and the ship-financing scheme is in place at the duty-free GIFT City.
Furthermore, he listed demand for 437 vessels, elaborating that a whole-of-government vessel acquisition plan – worth approximately Rs.2.2 lakh crore over 15 years is to cover requirements of oil and gas Public Sector Units and Shipping Corp of India fleet, green tugs, and dredgers.
“Tenders for 34 vessels already floated, all receiving strong participation from Indian shipyards,” he said.
For ship finance and leasing, GIFT City IFSC is becoming India’s maritime financial services hub. Tax holidays, customs and GST exemptions, and simplified regulations have already enabled 20 vessels to be flagged at GIFT City, including by CMA CGM and Maersk. “Our target is to have Indian-flagged ships in the global top 5 for gross tonnage by 2047.”
India, he said, is undertaking its most ambitious maritime industrial transformation – transitioning from a buyer of vessels to a builder, targeting the top five global shipbuilding nations by 2047.
He explained how the Rs.69,725 crore maritime revitalisation package is working.
The Shipbuilding Financial Assistance Scheme (SBFAS), a Rs.24,736 crore corpus, is valid through March 2036.
Maritime Development Fund is offering Rs.25,000 crore for long-term, low-cost financing, including a 3% interest subvention.
Shipbuilding Development Scheme (SbDS) is of about Rs.20,000 crore for greenfield clusters and brownfield expansion.
Infrastructure Status for large ships and shipyards – unlocking long-tenure, low-cost financing.
The results are already visible in the order book – CMA CGM has ordered 6 dual-fuelled LNG container vessels at Cochin Shipyard – a landmark commercial order from a global top-3 carrier.
Norwegian owner Redreiet Stenerson has ordered 6 chemical tankers at Swan Energy’s Pipavav Shipyard. “Indian yards are bidding for Very Large Gas Carriers in consortium with Samsung Heavy Industries, HD KSOE, and Hanwha Ocean – demonstrating the effectiveness of our mandatory domestic partner model,” said Kumar.
The Container Manufacturing Promotion Scheme (CMPS) – with Rs.10,350 crore over 13 years, targeting annual domestic container output of 750,000 TEUs – up from the current 24,000 TEUs.
“This is not aspiration. This is an order pipeline, backed by policy, capital, and government procurement,” said the secretary.
His key message was that green ports, green fuels, green vessels was that India’s maritime growth is firmly aligned with sustainability and global climate commitments.
Under the Green Hydrogen Mission, he said the Kandla, Paradip and Tuticorin ports are being developed as green hydrogen hubs under the National Green Hydrogen Mission. Industry partners L&T, Reliance, Welspun, and AM Green have collectively taken approximately 3,400 acres at Kandla for green hydrogen and ammonia production facilities.
Further, he said Kandla port become a Methanol Bunkering point. On April 2, 2026, Kandla Port conducted India’s first Shore-to-Ship Methanol Bunkering Trial – certified by DNV – on the Rotterdam–Singapore corridor. Kandla is now the only Indian port with demonstrated methanol bunkering capability.
He informed that under the Green Tug Transition Programme, 100 green tugs in procurement pipeline worth Rs.12,000 crore – already receiving strong bids at Indian shipyards.
The roundtable ended with seven Business-to-Business MoU Exchanged.
V.O. Chidambaranar Port and DNV for green fuel bunekring readiness to pioneer ammonia and methanol bunkering for India
VOC Port and Singapore Maritime Academy for methanol and green fuels bunkering personnel training at VOC Port
VOC Port and ABB for establishing full scale shore power readiness being the first in India
VOC Port and Aegis Vopak to develop large scale green fuel storage and bunkering infrastructure on global standards, and Deendayal Port and Aegis Vopak for “Development of e-Methanol Bunkering Facility, together with shared, common-user, and independent operated storage infrastructure, to enable storage, export, and coastal movement of green ammonia and green methanol at DPA Kandla.
Velocity Shipbuilders Pvt Ltd and LOTS Shipping and Trading Pte. Ltd., Singapore, for the construction of a multicat vessel under the Singapore flag
MLA College (UK) and the Institute of Marine Engineers (India) to advance marine and maritime education and professional development in India. This supports the establishment of an India-based learning hub, expand access to high-quality programmes, and strengthen pathways for Indian maritime professionals. Fiinews.com
