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). The collaboration aims to build and operate a fleet to support the vision of Atmanirbhar Bharat, strengthen India’s shipping capacity, and improve the country’s energy security. Vessels will be used for international and coastal trade.
Shipping Capacity Collaboration
Shipping Corporation of India Ltd. (SCI) has formalized a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), and Indian Oil Corporation Ltd. (IOCL). The primary goal is to foster collaboration in building and operating a fleet of vessels.
Strategic Objectives
The collaboration’s objectives include supporting the Atmanirbhar Bharat vision, enhancing India’s shipping capabilities, and bolstering the nation’s energy security. Under the terms of this MoU, the companies intend to jointly acquire, own, and manage a fleet of vessels designed for both international trade and coastal transportation of petroleum, petroleum products, petrochemicals, and various hydrocarbon cargoes.
Event Details
The date of this event is 19.09.2025 at 1800 Hours IST.
Source: BSE
