India is setting its sights on becoming a global shipbuilding powerhouse with an ambitious plan that includes a 25,000 crore Maritime Development Fund, a National Shipbuilding Mission, and purchase preferences for domestically built vessels. The goal is to boost domestic shipbuilding, reduce reliance on foreign vessels, and increase India’s share in sea-borne trade. This strategy aims to drive the country’s maritime sector towards self-reliance and economic growth.
St. Johns Ship Building, a leading U.S. shipyard, has secured a significant contract with the U.S. Army Corps of Engineers (USACE) to construct two 140′ x 32′ x 7′ Stop Log Barges. This marks the shipyard’s first new construction project for the U.S. Government, highlighting its commitment to delivering high-quality, dependable vessels that meet critical infrastructure needs.
HD Hyundai Heavy Industries has achieved a significant milestone in the development of eco-friendly marine and land-based power solutions with its groundbreaking high-pressure ammonia direct injection engine. This innovative engine, the first of its kind globally, has received model-based class approval from seven major classification societies, paving the way for its imminent commercialization.
Emerald Cruises has commenced construction on its latest vessel, the Emerald Kaia, with the cutting of the first steel sheets at the Halong Shipbuilding Company in Vietnam. The 393-foot yacht is set to launch in April 2026 and will feature luxurious accommodations for 128 guests, a range of high-end amenities, and innovative design features.
Royal Caribbean Group has announced a partnership with Meyer Turku for the construction of a fourth Icon Class ship, scheduled for delivery in 2027. The agreement also includes options for two additional ships, demonstrating the company’s commitment to expanding its fleet and providing innovative vacation experiences.
The US Navy is facing a severe shipbuilding crisis, with production at its lowest point in 25 years, leaving the US trailing behind China in terms of ship production capabilities. The crisis stems from a combination of factors including last-minute design changes, cost overruns, and a shortage of skilled workers. This has resulted in significant delays and cost increases, hindering the Navy’s ability to meet its operational needs and counter growing global maritime threats.
China is poised to revolutionize its cruise tourism sector by constructing a second large cruise ship with significant advancements in efficiency and passenger experience. The new ship, expected to be completed eight months faster than its predecessor, will showcase an impressive 16-story superstructure dedicated to living and entertainment spaces, maximizing public zones and outdoor leisure areas. With its larger size and advanced features, China is positioning itself as a formidable player in the global cruise ship market, attracting a wider international audience and boosting tourism-driven economic growth.
The US and India are exploring a new Master Ship Repair Agreement (MSRA) that would grant US warships access to repair services at Indian ports. This is part of a broader effort to make India a major hub for US Navy maintenance and repair in the Indo-Pacific region. Last year, the US Navy signed MSRA deals with Larsen and Toubro Ltd and Cochin Shipyard Ltd, providing the US Navy access to key Indian ports. Talks are also underway for a similar agreement with Goa Shipyard Ltd. Under these agreements, Indian shipbuilders will gain commercial benefits from undertaking repairs, and the presence of US Navy ships in Indian shipyards will strengthen the defense relationship between the two countries. This agreement reflects the growing defense partnership between New Delhi and Washington, which includes joint military exercises, foundational defense agreements, and plans for defense industry collaboration.
