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“This collaboration is aligned with the Government of India’s vision for self-reliance and energy security,” BPCL said in a statement.
The deal aims to improve operational efficiency, expand capabilities, and drive innovation in the maritime sector. It will ensure a secure and resilient energy supply chain, supporting India’s growing energy needs.
State-owned Shipping Corporation of India (SCI) is India’s largest shipping company. Its fleet features bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG and offshore supply vessels.
The MoU encompasses a long-term commitment by BPCL and SCI to explore opportunities that focus on enhancing India’s maritime strength while ensuring a reliable energy transportation network.The agreement was signed by Manoj Heda, Executive Director, of International Trade and Risk Management, BPCL and Atul Ubale Director Bulk Carrier and Tankers Division, in the presence of Shri Vetsa Ramakrishna Gupta, Director – Finance, BPCL and Shri Dinesh Kutty DGM I/c Tank er Commercial SCI.
Commenting on the development, G. Krishnakumar, Chairman & Managing Director, of BPCL, said, “Our partnership with SCI is a step towards building a world-class shipping ecosystem that supports India’s growing energy needs. By working together, we aim to create a dedicated, efficient, and future-ready maritime infrastructure that will not only strengthen our supply chain but also contribute to India’s position as a global maritime leader. This collaboration is aligned with the Government of India’s vision for self-reliance and energy security.”
Shares of BPCL rose nearly 2% on Thursday to clock an intraday high of ₹260.10 apiece on the BSE. The stock ended the session nearly flat at ₹255.45.
Shipping Corporation of India, on the other hand, closed the session 1,54% lower at ₹163.25 apiece on the BSE. The stock rose over 2% on Thursday to clock an intraday high of ₹169.6.
