India and South Korea sign VOYAGES green shipping pact
India and South Korea adopted a cooperation framework called VOYAGES in April 2026, spanning shipbuilding, shipping and maritime logistics.
The pact lands in a market where two builders dominate. China and South Korea hold 89 percent of the world orderbook for alternative-fuel-capable vessels, measured by compensated gross tonnage. The engines for that shift sit elsewhere: European designers account for more than 65 percent of engine supply across the alternative-fuel fleet and its orderbook.
Ulsan has bunkered LNG, methanol and ammonia, making it the first port anywhere to supply all three major alternative marine fuels.
On the Indian side, Deendayal, Paradip and V.O. Chidambaranar carry Green Hydrogen Hub status.
The two governments frame the tie-up as a way to spread the technologies and infrastructure behind cleaner shipping. Cooperation between them "can help diversify the capabilities, technologies and infrastructure needed to make green shipping more resilient and accessible," the analysis said.
Source: orfonline.org (opens in a new tab)1 sourcePermalink