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.

Infrastructure Urban

07 Oct 2025

Greta Minerals Doubles WA Exploration Land, Targets Lithium Supply for India

Greta Minerals Pte, part of Singapore-based Greta Group, has expanded its exploration footprint in Western Australia to 1,550 sq km, up from 700 sq km acquired in 2024.Nitesh Chaudhari, Chairman of Greta Group, said, “We are very happy to expand our landholding, encouraged by initial results from Ultrafine+ soil sampling at Gecko North. The geological corridor appears promising for lithium, gold, and other critical minerals.”The Gecko North Project, 25 km northwest of Coolgardie, is one of seven critical mineral and gold projects under Greta Minerals (Australia) Pty, which now holds 37 gra..

Vedanta Extends Demerger Deadline to March 2026 Amid Pending Approvals

Vedanta, led by Anil Agarwal, has extended the deadline for its corporate demerger to March 31, 2026, as approvals from the National Company Law Tribunal (NCLT) and relevant government authorities are still pending, the company said in a regulatory filing. The deadline had earlier been extended from March 31, 2025, to September 30, 2025.The board stated, “Given that the conditions precedent in the Scheme, including NCLT approval and approvals from certain government authorities, are still in process, the timeline for fulfilment of these conditions has been extended to March 31, 2026.” The ..

MOIL Achieves Record September Production and Strong Q2 Performance

MOIL posted its best-ever September production of 1.52 lakh tonnes, up 3.8 per cent from the same period last year, reflecting robust operational performance. Exploratory core drilling also surged to 5,314 metre, a 46 per cent increase, highlighting the company’s focus on expanding its resource base.For Q2 FY26 (July–September 2025), MOIL achieved record quarterly production of 4.42 lakh tonnes, up 10.3 per cent year-on-year, and sales of 3.53 lakh tonne, growing 18.6 per cent over the same quarter last year. Exploratory drilling for the quarter reached 21,035 metre, marking a 4.1 per cent..