Mumbai: The Shipping Corporation of India Ltd. (SCI), a leading public sector undertaking under the Ministry of Ports, Shipping and Waterways, has signed a Memorandum of Agreement (MoA) to acquire two second-hand Very Large Gas Carriers (VLGCs). The vessels, each with a capacity of approximately 82,000 CBM, are expected to join SCI’s fleet within the current quarter of FY 2025–26.
This move marks a strategic step in SCI’s long-term plan to expand its tonnage and enhance its capabilities in the international gas transportation market, particularly in the fast-growing LPG segment.
Strengthening Global LPG Transport Capabilities
The acquisition of the VLGCs will significantly boost SCI’s liquefied petroleum gas (LPG) carrying capacity. With global demand for clean fuel alternatives on the rise, the addition of these high-capacity vessels positions SCI to better serve the Indian and international LPG markets.
According to the official stock exchange disclosure filed under Regulation 30 of SEBI (LODR) Regulations, 2015, the MoA was signed on July 4, 2025, with the deal expected to close within this financial quarter.
Details of the Acquisition
- Vessel Type: Very Large Gas Carriers (VLGCs)
- Capacity: Approx. 82,000 CBM each
- Purpose: Fleet expansion, enhanced LPG transport
- Timeline: Induction into fleet during Q2 of FY 2025–26
The acquisition is part of SCI’s efforts to modernize its fleet and align with global maritime energy transportation standards.
Official Confirmation
The disclosure was signed by Smt. Swapnita Vikas Yadav, Company Secretary and Compliance Officer of SCI, and was timestamped at 17:59 hours on July 4, 2025.
About SCI
The Shipping Corporation of India is the largest Indian shipping company, established in 1961 by merging Eastern Shipping Corporation and Western Shipping Corporation. It is a government-owned enterprise playing a crucial role in India’s maritime trade. SCI operates various types of vessels, including bulk carriers, tankers, container vessels, and passenger-cum-cargo vessels. SCI was formed through the amalgamation of Eastern and Western Shipping Corporations. It later absorbed Jayanti Shipping Company (1973) and The Mogul Line Ltd. (1986).
