Joint Venture20 Sept 2025, 02:10 pm
SCI Collaborates with BPCL, HPCL, and IOCL for Joint Vessel Acquisition
AI Summary
Shipping Corporation of India Ltd. (SCI) has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), and Indian Oil Corporation Ltd. (IOCL) to jointly acquire, own, operate, and manage vessels. This collaboration aims to support the vision of Atmanirbhar Bharat, strengthen India’s shipping capacity, and improve the country’s energy security. The vessels will be used for international trade and coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes.
Key Highlights
- SCI collaborates with BPCL, HPCL, and IOCL for joint vessel acquisition
- Collaboration aims to support Atmanirbhar Bharat vision and improve energy security
- Vessels to be used for international and coastal transport of hydrocarbon cargoes
- Joint acquisition, ownership, operation, and management of vessels