Shipping Corp overcomes divestment woes, eyes Rs 20 bn ship purchase

15 Jan 2024 CW Team

The State-run Shipping Corporation of India (SCI) is reportedly taking measures to acquire five ships, all second-hand and of various types, involving an investment of approximately Rs 20 billion. This suggests that the 'unofficial' halt on ship acquisitions, attributed to the ongoing privatisation process, has been lifted, as per information from multiple sources.

According to a government official, one source among them, the board of the national carrier has granted "in-principle" approval for the purchase of these ships by 31 March. The proposed acquisitions include a very large gas carrier (VLGC), a medium-range tanker (MR Tanker), a container ship with a capacity exceeding 9,000 twenty-foot equivalent units (TEUs), a platform supply vessel (PSV), and an anchor handling, towing, and supply vessel (AHTSV).

It was informed that Shipping Corporation of India last expanded its fleet in FY2017 when it acquired four vessels, namely two platform supply vessels, one VLGC, and one Suezmax tanker, all second-hand.

In December 2020, the government's asset sale department, the Department of Investment and Public Asset Management (DIPAM), initiated the privatisation process for Shipping Corporation of India, a 'navratna' public sector undertaking, intending to sell the government's 63.75 percent stake to a strategic buyer. However, the sale process has yet to reach a conclusion.

SCI, India's largest shipping company in terms of fleet size, is the only shipping company in the country that owns very large crude carriers or so-called oil super tankers, with five VLCCs in its fleet.

The carrier has refrained from acquiring new ships for over six years, resulting in a "depletion" of its fleet as older ships are sent to scrap yards. In contrast, private competitors have consistently expanded their fleets through periodic second-hand purchases.

Presently, SCI operates a fleet of 59 ships of various types, with one product tanker slated for scrapping.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..