ONGC to Take 50 per cent Stakes in Ethane Shipping JVs

08 Jan 2026 CW Team

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..