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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| Shipping Corporation of India to buy 26 ships |
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Date:2025-08-20 Readers:
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State-owned Shipping Corporation of India (SCI) is planning to acquire 26 domestically built ships worth INR198.2 billion (US$2.3 billion) under a government initiative to strengthen the country's shipbuilding industry, reported New Delhi's Economic Times.
The vessels will have a combined internal volume of 1.18 million gross tonnes, with deliveries staggered over several years. The move is part of a broader push to reduce reliance on foreign-built ships and stimulate local manufacturing.
SCI's purchase comes amid a wave of orders from other Indian sectors, including petroleum, steel and fertilisers. Together, these buyers plan to procure 207 ships valued at nearly ��.5 trillion, as India seeks to expand its maritime tonnage and energy transport capacity.
The deal will significantly expand SCI's current fleet of 55 vessels, which includes tankers, bulk carriers, liners and offshore supply ships. The company, along with the shipping ministry and Press Information Bureau, declined to comment on the transaction.
Prime Minister Narendra Modi's government earlier announced a INR250 billion fund to support the maritime sector. One of its goals is to raise the share of locally built tankers to seven per cent by 2030, and eventually to 70 per cent by 2047, the target year for India's transition to developed nation status.
The initiative is expected to generate captive demand for ships and attract investment from global shipbuilders, including firms in Japan and South Korea. It also aims to boost employment and infrastructure in India's nascent shipbuilding hubs.
https://www.shippingazette.com/news?news_id=9250800001038 |
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