SCI, IOC, BPCL & HPCL Join Forces to Build Dedicated Oil Tanker Fleet

The Shipping Corporation of India (SCI) has signed an MoU with IOC, BPCL, and HPCL to jointly develop and operate a fleet of oil tankers. These vessels will transport petroleum, petroleum products, petrochemicals, and other hydrocarbons across domestic and international routes. The collaboration is designed to strengthen India’s energy security and reduce reliance on foreign shipping lines. By creating a self-owned tanker fleet, India aims to cut foreign freight payments and gain better control of its energy supply chain. The move is aligned with the government’s Atmanirbhar Bharat vision, promoting self-reliance in strategic sectors. It will also boost India’s shipping capacity, ensuring cost-effective and timely transport of critical cargo. Backed by the MoPSW and MoPNG, the initiative highlights the power of inter-PSU collaboration. Experts believe this venture will improve efficiency, reduce vulnerabilities, and strengthen maritime logistics. Overall, the step marks a major milestone in India’s energy and shipping strategy, paving the way for future partnerships.Disclaimer: PolyMart does not offer guarantees regarding the accuracy, reliability, or completeness of the information provided on its platform. Users are advised to independently verify any data before relying on it for decision-making purposes.