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Report: Japan’s Mitsui OSK Poised to Order Newbuild Tankers in India

Indian shipyard Cochin
MOL is reproted to be in negotiations with India's Cochin Shipyard to build MR tankers (cochin)

Published Sep 3, 2025 12:58 PM by The Maritime Executive

 

Mitsui O.S.K. Lines, which is one of the world’s largest shipowners/operators, told the media in India that it is in discussions to begin building ships at the country’s shipyards as it looks to diversify its sources of newbuilds. The move is in keeping with the Indian government’s efforts to expand the shipbuilding industry into the international market.

According to the information supplied during a press briefing, MOL has been exploring the options for shipbuilding in Japan for the past three years, but found the yards lacked capacity. Now with government shipbuilding projects nearing completion, the government’s support, and recent partnerships such as the agreement between Cochin Shipyard and HD Korea Shipbuilding & Offshore Engineering to share expertise, MOL is reported to be in talks with the Indian government and Cochin Shipyard.

The Indian government has detailed plans to develop three large shipbuilding clusters as it seeks to expand the industry. It has been courting major Western carriers with discussions reported for new projects with MSC Mediterranean Shipping Company, Maersk, and CMA CGM. The container carriers have discussed repair projects as a first step toward building new ships in India.

“The plan is to start with simpler vessels, like product tankers, for example, MR tankers, and gradually move towards more complicated ships,” said Captain Anand Jayaraman, South Asia Middle East regional Executive Officer of MOL (India), reports the Indian media outlet ETInfra. The executive reportedly told the media that MOL wants to develop sources beyond China, Korea, and Japan, and within the decade hopes to be able to build Ethane carriers in India.

MOL is already the fourth-largest shipping company in India. Out of a total fleet of more than 900 ships, the company has 13 registered in India. The media quotes the captain as saying the company’s goal is to grow to become India’s second-largest shipping company. Shipbuilding is also part of a larger investment planned by MOL into India, including railways and other logistic operations.