HD Hyundai signs MoU with CSL to boost shipbuilding capabilities
The MoU will focus on providing design and procurement support for CSL, technical collaboration to boost productivity and meet global quality standards, and workforce training.
This agreement also includes exploring new shipbuilding orders both domestically and internationally.
India's shipbuilding industry is experiencing rapid expansion, with the market projected to grow at an average annual rate of 60% until 2033. The partnership is in line with India's maritime development strategies: the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047, both of which aim to elevate India's maritime industry.
In support of these initiatives, India has set up a Maritime Development Fund of Rs250bn ($2.9bn) and is enhancing policy support for the shipbuilding sector.
An HD Hyundai official stated: 'This collaboration will serve as a springboard for both HD Hyundai and CSL to reach new heights, while also marking a turning point in accelerating India's national maritime vision.
'By leveraging HD Hyundai's accumulated technological expertise and experience, we will support CSL in enhancing its global competitiveness, while also seeking opportunities for shared growth with Korean equipment suppliers.'
HD Hyundai is also broadening its international partnerships, having signed MoUs with Huntington Ingalls Industries in the US and Edison Chouest Offshore, as well as engaging in defence cooperation with Peru's SIMA shipyard.
These efforts aim to create synergies and foster growth in the global shipbuilding industry.
HD Hyundai affiliates Avikus and HD Hyundai ENT have signed an MoU to promote the adoption of autonomous navigation technology in the maritime sector.
"HD Hyundai signs MoU with CSL to boost shipbuilding capabilities" was originally created and published by Ship Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Newsweek
11 minutes ago
- Newsweek
China's Xi Makes Trump Wait for Leader Talks
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The White House has been optimistic about the prospects for an in-person summit with Chinese President Xi Jinping—the first of President Donald Trump's second term. Yet analysts say the Chinese leader is likely holding out for concrete deliverables before agreeing to the high-profile meeting. All Eyes on Sweden Trump dramatically escalated the trade war with the world's second-largest economy in April, rolling out sweeping new tariffs that prompted China to respond with its own export duties and other measures. While Trump has said that "the confines of a deal" are in place ahead of a third round of talks between U.S. and Chinese negotiators, set for Sweden next week, several contentious issues remain unresolved. These include ongoing U.S. curbs on advanced chip exports to China and persistent geopolitical friction over influence in Asia and Beijing's threats toward Taiwan. Newsweek reached out to the White House and Chinese embassy in the U.S. via email for comment. Europe's Role Patrick Cronin, Asia-Pacific security chair at the Hudson Institute, told Newsweek: "A Xi-Trump summit is highly probable, but withholding final approval until Beijing can button down more information and as many concessions as possible is no doubt part of Xi's calculus." "What China and the United States can each negotiate with the EU will also help inform the China-US trade bargain that will be at the heart of any Xi-Trump summit," Cronin said. After months of efforts with dozens of countries, the White House recently secured a handful of deals with Japan, Vietnam, the Philippines and Indonesia, Cronin added. In a picture combination created on May 14, 2020, Chinese President Xi Jinping, left, and U.S. President Donald Trump are shown. In a picture combination created on May 14, 2020, Chinese President Xi Jinping, left, and U.S. President Donald Trump are shown. Dan Kitwood, Nicholas Kamm/AFP via Getty Images Among the deals Trump hopes to achieve is with the EU—a traditionally U.S.-aligned bloc that has become increasingly alienated by Trump's unpredictable trade moves and controversial domestic policies. Analysts say China has been seeking to exploit this rift and achieve a thaw in ties with Brussels that has deteriorated over issues like alleged Chinese market flooding with state-subsidized electric vehicles, human rights concerns and Beijing's support for Russia amid the war in Ukraine. Sean King, an Asia scholar and senior vice president at Park Strategies, told Newsweek: "PRC [People's Republic of China] leaders have long seen Europe as a comparatively easier mark, as the continent doesn't have America's Asian security concerns and obligations." He added, "It's probably better for Trump to first line up what he says are trade deals with friends and allies before going for the big one with Beijing." While European Commission President Ursula von der Leyen's visit to Beijing this week yielded a memorandum of understanding on climate change and an agreement to facilitate rare-earth exports, analysts note that a fundamental shift in EU-China ties remains elusive. Timetable Uncertain U.S. Secretary of State Marco Rubio, visiting Malaysia earlier this month for meetings with his Chinese counterpart Wang Yi, said that "the odds are high" a Trump-Xi summit will take place by the end of the year. Rosemary Foot, professor and senior research fellow at the University of Oxford's Department of Politics and International Relations, told Newsweek it's unlikely Xi is counting on Europe as leverage in his dealings with the White House. "I think that it is to do with China's more general approach to the Trump administration which is to wait for some intention to offer a serious deliverable from the meeting and perhaps also to paint President Trump as supplicant," she said. Trump and Xi last met in 2019 at the G20 summit in Osaka, Japan.


Business Upturn
12 minutes ago
- Business Upturn
Cropnosys India Private Limited and ISAP India Foundation Celebrate Milestone in Farmer Empowerment through ‘Profit Pathways' Initiative
Cropnosys (India) Private Limited, in collaboration with ISAP India Foundation, hosted a Project Reflection Event in Lucknow to mark a major milestone in their joint initiative, Profit Pathways: Enhancing Farm Income through Input Efficiency and Market Linkages. The event celebrated the significant success in empowering smallholder farmers and promoting sustainable agriculture across Barabanki, Uttar Pradesh. Business Wire India Cropnosys (India) Private Limited, in collaboration with ISAP India Foundation, hosted a Project Reflection Event in Lucknow to mark a major milestone in their joint initiative, Profit Pathways: Enhancing Farm Income through Input Efficiency and Market Linkages. The event celebrated the significant success in empowering smallholder farmers and promoting sustainable agriculture across Barabanki, Uttar Pradesh. The event brought together farmers, field practitioners, institutional experts, donors, and representatives from key government and research organizations for high-level discussions on the learnings, impact, and way forward for the initiative. 'At Cropnosys, we believe inclusive growth begins at the grassroots. 'Profit Pathways' was our commitment to ensuring that farmers not only grow crops, but also grow their incomes,' said Gurvinder Singh, Founder & Director. 'We're proud of the transformation we've seen in Barabanki and are grateful to the community and our implementation partners, ISAP.' The project was aligned with national priorities such as Doubling Farmers' Income and global goals under the UN Sustainable Development Goals (SDG 2: Zero Hunger and SDG 12: Responsible Consumption and Production). The inauguration featured the ceremonial lighting of the lamp, affirming a shared commitment to inclusive and knowledge-driven growth in the agriculture sector. Initiated in FY 2024–25, the Profit Pathways project was implemented by ISAP India Foundation and supported by Cropnosys India Private Limited. The initiative aimed to empower 1,500 smallholder farmers across three Farmer Producer Organizations (FPOs) through a multi-pronged strategy focusing on: Soil Health & Fertilizer Efficiency : Installation of two soil testing units, customized nutrient management plans, and farmer training in soil health regeneration. Farmer Outreach & Demonstrations : Conducted 37 village-level trainings and supported 410 lead farmers with demonstration plots focused on wheat and menthol. Value Addition & Market Linkages : Organized buyer–seller meets, facilitated collective sales via FPOs, and installed an upgraded steam distillation unit to improve value addition for menthol crops. Awareness & Communication : Developed IEC materials including digital guides and videos to promote sustainable agricultural practices and cost-efficiency. These efforts collectively aimed to enhance farmers' profitability by promoting better market access, improved input efficiency, and restored soil productivity. Mr. Gaurav Vats, Director – Agri Services at ISAP, gave an overview of the project journey, key interventions, and observable outcomes, including improved crop yields and farmer incomes. Dr. Sanjay Singh, Director General of the UP Council of Agricultural Research (UPCAR), graced the event as Chief Guest and underscored the importance of collaborative programs that address both agronomic practices and systemic bottlenecks in rural farming ecosystems. Ashish Kumar, Market Development Manager (North India), Cropnosys (India) Private Limited, shared the company's continued commitment to community-centric innovation. He emphasized the importance of knowledge delivery, access to quality inputs, and the creation of robust market ecosystems for the long-term resilience of smallholder farmers. The event also featured a documentary film that offered a vivid glimpse into the transformational stories of participating farmers. Field presentations by Mr. Shubham from ISAP highlighted ground-level impacts, including increased income, higher productivity, and lower input costs. A panel discussion enriched the agenda, featuring agricultural experts such as Dr. Ashwini Kumar Singh from KVK, who elaborated on the role of technical convergence and extension strategies in scaling successful agronomic models. Ms. Tanushree and Mr. Ashish Tiwari of ISAP India Foundation served as the Masters of Ceremony (MCs), smoothly coordinating the sessions and enabling active engagement from diverse stakeholders throughout the day. With the conclusion of Profit Pathways, Cropnosys reaffirms its long-standing commitment to community development and sustainable agriculture and looks forward to scaling similar impact-driven models across other rural geographies in India. As the project concludes its current phase, the Profit Pathways initiative has set the stage for broader adoption of sustainable practices and stronger FPO-based markets. Led by ISAP India Foundation and supported by Cropnosys (India) Private Limited, the initiative remains closely aligned with the vision of Viksit Bharat 2047—transforming Indian agriculture to be more resilient, equitable, and future-ready. Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash


Washington Post
27 minutes ago
- Washington Post
US-China trade talks: Can China reduce its export dependence?
BEIJING — China's high dependence on exports will likely be a key focus of a new round of U.S.-China trade talks this coming week in Stockholm, but a trade deal would not necessarily help Beijing to rebalance its economy. U.S. Treasury Secretary Scott Bessent has said he hopes the negotiations can take up this issue, along with China's purchases of oil from Russia and Iran, which undercut American sanctions on those two countries.