Hapag-Lloyd and the Indian Government signed three letters of intent to deepen maritime cooperation and support the development of the country's shipping and logistics sector.
The shipping group plans to explore the reflagging of up to four vessels under the Indian registry as part of this new collaboration.
Any such transition remains subject to commercial assessments and regulatory requirements, according to the company.
A separate initiative involves the creation of a ship recycling ecosystem in India intended to provide capacity for processing up to 100 vessels. Officials noted that this project is designed to ensure end-of-life vessels are handled in facilities that meet international safety standards.
The agreements also outline a strategic cooperation framework for the development of Vadhavan Port in partnership with the Jawaharlal Nehru Port Authority.
Hapag-Lloyd highlighted that its Indian operation currently has six dedicated liner services connecting the country to global trade hubs. It has also made a strategic investment in JM Baxi Ports and Logistics, which handles approximately 3.2 million TEU annually.
The firm noted that it intends to grow its handled volumes in the area to around three million TEU by 2030.
