ONGC to Take 50 per cent Stakes in Ethane Shipping JVs
PORTS & SHIPPING

ONGC to Take 50 per cent Stakes in Ethane Shipping JVs

State-owned Oil and Natural Gas Corporation (ONGC) has announced plans to acquire a 50 per cent stake each in two joint venture companies that will own and operate ethane carriers, in partnership with Japanese shipping major Mitsui OSK Lines.

Under the agreements, ONGC will subscribe to 200,000 equity shares of Rs 100 each in Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited. Both entities are registered in GIFT City, Gandhinagar.

The Maharatna company said each joint venture will operate one very large ethane carrier under the Indian flag. The vessels will be used to transport ethane from the United States to supply ONGC Petro Additions Limited, ONGC’s petrochemicals subsidiary.

ONGC said that combining MOL’s global maritime expertise with ONGC’s regional presence and operational capabilities is expected to create value across the energy transportation and logistics value chain.

The company added that the move forms part of its broader business diversification strategy. By entering ethane shipping, ONGC aims to capitalise on emerging opportunities in energy logistics, strengthen integration across its value chain and build a strong operational presence in specialised shipping segments.

State-owned Oil and Natural Gas Corporation (ONGC) has announced plans to acquire a 50 per cent stake each in two joint venture companies that will own and operate ethane carriers, in partnership with Japanese shipping major Mitsui OSK Lines. Under the agreements, ONGC will subscribe to 200,000 equity shares of Rs 100 each in Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited. Both entities are registered in GIFT City, Gandhinagar. The Maharatna company said each joint venture will operate one very large ethane carrier under the Indian flag. The vessels will be used to transport ethane from the United States to supply ONGC Petro Additions Limited, ONGC’s petrochemicals subsidiary. ONGC said that combining MOL’s global maritime expertise with ONGC’s regional presence and operational capabilities is expected to create value across the energy transportation and logistics value chain. The company added that the move forms part of its broader business diversification strategy. By entering ethane shipping, ONGC aims to capitalise on emerging opportunities in energy logistics, strengthen integration across its value chain and build a strong operational presence in specialised shipping segments.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code