India’s state-owned Shipping Corporation of India (SCI) is joining forces with the country’s top refiners to launch an expansion of the MR tanker fleet, part of New Delhi’s drive for greater energy and maritime security.
According to the Economic Times, SCI is forming a joint venture with Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum that will issue tenders for up to 10 newbuildings at domestic yards.
The plan underscores both the government’s desire to reduce reliance on foreign tonnage and to give fresh momentum to India’s shipbuilding sector.
Further details on the orders are expected once the joint venture framework is finalised.
