SCI Joins PSU Refiners to Operate Joint Crude Tanker Fleet

24 Sep 2025 CW Team

Shipping Corporation of India Ltd (SCI) has signed a Memorandum of Understanding (MoU) with three state-owned refiners to jointly operate a fleet of crude oil tankers, strengthening India’s energy security.

Under the agreement, SCI, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) will acquire, own, operate and manage vessels collectively, according to SCI’s regulatory filing.

“These vessels will serve both international trade and coastal transport of petroleum, petroleum products, petrochemicals and other hydrocarbon cargoes,” SCI stated.

The collaboration supports the Government’s Atmanirbhar Bharat initiative, aiming to expand domestic shipping capacity and ensure a secure energy supply. The initiative is backed by the Ministry of Ports, Shipping and Waterways (MoPSW) and the Ministry of Petroleum and Natural Gas (MoPNG).

As of 1 July 2025, SCI operated 57 vessels, including 18 crude oil tankers, 15 bulk carriers, 11 product tankers, 10 offshore vessels, two container vessels and one gas carrier.

SCI’s domestic customers include public sector units such as IOCL, BPCL, HPCL, MRPL, CPCL and ONGC, alongside private firms including Reliance, Nayara and Cairn Energy. International clients comprise major oil and refining companies such as Shell, BP, Chevron, Koch, Marubeni, Vitol and Trafigura.

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