
Hapag-Lloyd signs India LOIs on reflagging and recycling
Global container carrier Hapag-Lloyd has committed to reflagging up to four vessels under the Indian flag, as well as stepping up cooperation to support the development of sustainable ship recycling in Letters of Intent (LOIs) signed with the Government of India. The LOIs were signed in Mumbai at a meeting between Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd, and Sarbananda Sonowal, India’s Minister of Ports, Shipping and Waterways. The agreements also outlined potential areas of collaboration related to the development of Vadhavan Port.
“India is one of the most important growth markets in global trade and a key strategic partner for Hapag-Lloyd,” said Jansen. “Through these Letters of Intent, we want to further strengthen our long-standing relationships with India and support the country’s ambitions to expand its maritime capabilities, enhance global connectivity and advance sustainable shipping.”
With regards to vessel reflagging, at this stage no specific timeline, vessel profile or capacity range has been defined. Hapag-Lloyd adds that reflagging will remain subject to further discussions, commercial considerations and applicable legal and regulatory requirements.
Hapag-Lloyd is committed to ensuring that end-of-life vessels are recycled safely and responsibly in facilities that meet the highest environmental and safety standards. The intended cooperation set out in the LOI aims to support the development of recycling capacity in India aligned with the EU Ship Recycling Regulation (SRR), currently regarded as the leading international standard. The envisioned investment could provide capacity for recycling up to 100 vessels.
In addition, one of the LOIs that were signed anticipates discussions on a strategic cooperation framework related to the development of Vadhavan Port in collaboration with the Jawaharlal Nehru Port Authority. Hapag-Lloyd intends to contribute its global shipping and terminal expertise to support this development.
“India’s port and logistics infrastructure is developing at remarkable speed and scale,” said Dheeraj Bhatia, CEO of Hanseatic Global Terminals and member of the Hapag-Lloyd Executive Board. “Projects such as Vadhavan Port have the potential to significantly strengthen India’s role in global supply chains. We look forward to help developing an efficient, future-ready port infrastructure in India.”
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