The Shipping Corporation of India has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), and Indian Oil Corporation (IOCL). 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 plan 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.
Shipping Corporation of India possesses all the ingredients essential for emerging as a truly world class international shipping company.
