Shipping Corporation of India MOU with Oil PSUs

 

  • Shipping Corporation of India MOU with Oil PSUs 


  • The Shipping Corporation of India Ltd. has signed a Memorandum of Understanding with Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd. ,and Indian Oil Corporation Ltd. The purpose of this collaboration is to build and operate fleet together that will support the vision of Atmanirbhar Bharat, strengthen India’s shipping capacity, and improve country’s energy security. Under this MoU, companies plans to jointly acquire, own, operate, and manage vessels. These vessels shall be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes.
  • Container EXIM Trade 
  • Leveraging Geopolitical Shift: Market volatility, exemplified by global tariff changes, is accelerating the "China Plus One" strategy, positioning India as the stable and preferred sourcing hub of choice. 
  • Operational Integrity (India-Europe Service):  maintain 100% service continuity on the crucial India-Europe trade lane by strategically rerouting via the Cape of Good Hope, effectively isolating operations from the Red Sea risk and ensuring predictable delivery for our customers.
  • Liner/Container Business - Outlook 
  • Strategic Positioning : We are strategically positioned to benefit from India's economic growth story by dominating the stable and expanding coastal sector. 
  • Risk Mitigation Success: Our consortium strategy for the India-Europe sector as well as timely chartering of vessels has proven effective and reliable, allowing us to sail through geopolitical turbulent waters. 
  • While global rate indexes reflect volatility, our prudent, disciplined capacity management ensures the protection of margins and long-term financial health.
  •  Positive Outlook: We are confident in the sustained growth of our coastal business and are actively making capital decisions to expand our tonnage and geographical footprint to secure market leadership for years to come in both Coastal & EXIM sectors.
  • Offshore Market 
  • The overall outlook for the global offshore shipping industry remains positive and strengthening, supported by continued growth in offshore oil and gas activities and emerging opportunities from the offshore renewable energy sector 
  • In India, the offshore segment continues to gain momentum in line with ONGC’s ongoing exploration and field development programs, as well as new entrants like Oil India Ltd. and private operators expanding offshore activities. This domestic demand, coupled with limited Indian-flag tonnage, is expected to keep the market firm in the near to medium term. 
  • The present requirement of vessels in the industry mandates DP2 notation with optimum fuel efficiency.

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