The Shipping Corporation of India (SCI) and national oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation have entered into an MoU to collaborate for building and operating a fleet.
The companies plan to jointly acquire, own, operate and manage vessels that will be used for international trade as well as coastal movement of petroleum, petroleum products, petrochemicals and other hydrocarbon cargoes, SCI said in a filing on Saturday. A government of India initiative involving the Ministry of Ports, Shipping and Waterways and the Ministry of Petroleum and Natural Gas, the collaboration is to build and operate fleet together that will support the vision of Atmanirbhar Bharat, strengthen the country’s shipping capacity and improve energy security.
Published – September 20, 2025 08:01 pm IST
