Hapag Lloyd and the Government of India have officially signed a Letter of Intent (LOI) to strengthen maritime cooperation.
Under the new agreement, Hapag Lloyd may explore reflagging up to four of its vessels under the Indian registry, pending internal commercial reviews and regulatory approvals.
Additionally, the LOI outlines the development of a localized ship recycling ecosystem designed specifically to meet strict EU Ship Recycling Regulation (SRR) standards. This initiative could eventually provide the capacity to safely dismantle up to 100 vessels, drastically improving environmental performance and operational safety during end of life disposal for the global fleet.
The partnership also formalizes strategic cooperation on the development of Vadhavan Port, working in tandem with the Jawaharlal Nehru Port Authority. Hapag Lloyd plans to leverage its global shipping and terminal expertise to support both the design and operational readiness of this critical new deep water facility.
Dheeraj Bhatia, CEO of Hanseatic Global Terminals and Hapag Lloyd Executive Board Member, emphasized the scale of the region’s growth. “India’s port and logistics infrastructure is developing at remarkable speed and scale,” Bhatia stated. “Projects such as Vadhavan Port have the potential to significantly strengthen India’s role in global supply chains.”
For Hapag Lloyd, this LOI deepens a long standing operational footprint in the region, continuing to connect the country’s exporters and importers to global markets through dedicated liner services.