Shipping Corporation of India teams with petroleum majors for fleet expansion

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). This collaboration, part of a government initiative, aims to strengthen India's shipping capacity and energy security.

The alliance will jointly acquire, own, operate, and manage a fleet of vessels. These vessels will be utilized for international trade and the coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes. This initiative aligns with the vision of Atmanirbhar Bharat (self-reliant India).

The MoU was signed on September 19, 2025, as disclosed by SCI on September 20, 2025. This event is significant for the company's operational expansion and contribution to national energy objectives.