Shipping Corporation of India
| Company type | Public |
|---|---|
| BSE: 523598 NSE: SCI | |
| Industry | Shipping |
| Founded | 2 October 1961 in Mumbai |
| Headquarters | Mumbai |
Key people | Binesh Kumar Tyagi (Chairman & MD) |
| Revenue | ₹5,098.59 crore (US$600 million) (2022)[1] |
| ₹809.26 crore (US$96 million) (2022)[1] | |
| Total assets | ₹13,855.06 crore (US$1.6 billion) (2022)[1] |
| Total equity | ₹8,699.64 crore (US$1.0 billion) (2022)[1] |
| Owner | Government of India (63.75%)[2][3] |
Number of employees | 554 (Jan 2022)[4] |
| Website | shipindia.com |
The Shipping Corporation of India (SCI) is an Indian public sector undertaking that operates and manages vessels servicing both national and international lines. It is under the ownership of the Government of India and under administrative control of the Ministry of Ports, Shipping and Waterways, with its headquarters in Mumbai.[5]
History
SCI was established on 2 October 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Two more shipping companies, Jayanti Shipping Company and Mogul Lines Limited, were merged with SCI in 1973 and 1986, respectively.[6]
SCI started with 19 vessels. It gradually metamorphosed into a conglomerate having 80 ships of 59 lakh (5.9 million) tonnes deadweight (DWT) with interests in different segments of the shipping trade.
The fleet size of the merchant carrier had peaked at over 120 vessels which included liners, oil tankers, gas carriers, chemical tankers, passenger vessels, offshore vessels.[7]
Inland & Coastal Shipping Ltd. (ICSL), SCI's wholly owned subsidiary, was incorporated in 2016 after the Maritime India summit for undertaking/providing transport services through Inland waterways and coastal shipping.
In year 2003, the company recruited their first ever girls batch, the batch TNOC35 had 3 girls Namrata Singh Tarkar, Anuradha Jha and Suneha Gadpande and rest 32 boys.
SCI has a fleet of 55 vessels as of August 2025.[8][9]
Fleet expansion
On 21 November 2019, the Government of India approved the privatisation of SCI.[10] In 2022, the privatisation was delayed by the Russo-Ukraine war.[11]
However, the privatisation of SCI did not go through as the government announced in May 2025 that the national merchant carrier would buy over 200 vessels of all types by forming a joint venture of the respective stakeholder, mostly State-owned.[7] This included the procurement 112 tankers at a cost of ₹85,000 crore (US$10 billion) through 2047. Of this, 79 vessels, including 30 medium-range ones, would be bought in the first phase. The initiative will support India's plans to expand oil refinery annual capacity from the current 250 million tons to 450 million tons by 2030. Simultaneously, it will also expand the indigenous tankers in the Indian fleet from 5% in 2025 to 7% in 2030 and 69% by 2047. The first order for 10 ships is expected to be issued in May itself.[12][13][14]
In August 2025, SCI was planning to purchase 26 vessels at a cost of ₹19,820 crore (US$2.3 billion). This will have a cumulative internal volume of 1.18 million gross tonnes. Overall, the firm plans to buy 207 vessels at ₹1.5 trillion (US$18 billion).[8][9]
In January 2026, SCI issued an Expression of Interest to acquire 8 Very Large Gas Carriers (VLGC). Under the project, up to two ships can be delivered by an international shipyard, and the rest of 6 will be delivered by a local shipyard. The International shipyard must have experience of delivering at least 3 ships of the same class, VLGC, LNGC, or VLEC, in the past 5 years and should explain their plans for local collaboration for the latter 6 ships. Further, a bigger from a country sharing a land border with India must be registered with the Competent Authority to be eligible. The Press 3 Note is also applicable in order to keep a check on Chinese investments and participation.[15]
As of 23 February 2026, the carrier has floated a tender for a firm order of 2 dual-fuel, Medium Range Product Tanker for $200 million along with an option for two further vessels. An initial bid has been submited by Cochin Shipyard Limited (CSL), Swan Defence and Heavy Industries (SDHI), L&T Shipbuilding (Kattupalli Shipyard) and a consortium of Garden Reach Shipbuilders & Engineers (GRSE) and Hindustan Shipyard Limited (HSL). While GRSE and HSL have formed a consortium, CSL, SDHI and K&T has formed an alliance with HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries and Hanwha Ocean, respectively, for the project. All of these allies are based in South Korea. L&T has also sought support from Seoul-based KmsEmec Co. Ltd., a ship designing firm. This is a maiden attempt to construct a locally grown tanker in decades.[16]
On 18 March, SCI signed a shipbuilding contract with the Mazagon Dock Shipbuilders to acquire one 3,000 deadweight tonnage (DWT) methanol dual-fuel platform supply vessel. This is the first green fuel ship to be acquired by the firm.[17]
Services
- Cruise liner and Passenger services
- Bulk carrier and tanker services
- Offshore services
Major clients
- Bharat Heavy Electricals
- Bharat Petroleum
- BP
- British Gas
- Geological Survey of India
- Hindustan Petroleum
- Indian Oil Corporation
- Oil & Natural Gas Corporation
- Reliance Industries
- Shell
- Steel Authority of India
- Taj Cruises
- Tata tea
See also
- Borders of India
- Container Corporation of India
- Coastal India
- Exclusive economic zone of India
- First girl batch in 2003: Namrata Singh Tarkar,Suneha Gadpande, and Anuradha Jha
- Fishing in India
References
- ^ a b c d "Balance Sheet 31.03.2022".
- ^ "Latest Shareholding Pattern - Shipping Corporation of India Ltd". trendlyne.com. Retrieved 29 July 2020.
- ^ Paris, Costas (10 March 2021). "India's Top Shipping Company Set to Kick Off Privatization Push". Wall Street Journal – via www.wsj.com.
- ^ "Shipping Corporation of India Annual Report" (PDF).
- ^ "Contact Us - Registered Office: Shipping House". Archived from the original on 10 December 2008.
- ^ "About us: Shipping Corporation of India". Archived from the original on 15 December 2009.
- ^ a b Kalyanaraman, M. (30 November 2025). "Why is the Govt. reviving a PSU?". The Hindu. ISSN 0971-751X. Retrieved 2 December 2025.
- ^ a b "State-run Shipping Corp of India to buy 26 local vessels in $2 bn deal". Business Standard. 11 August 2025. Retrieved 2 December 2025.
- ^ a b Mishra, Mihir (11 August 2025). "Shipping Corporation of India to buy local vessels in $2 billion deal". The Economic Times. ISSN 0013-0389. Retrieved 2 December 2025.
- ^ Arup Roychoudhury (21 November 2019). "Privatisation push: Cabinet approves strategic sale of BPCL, 4 other PSUs | Business Standard News". Business Standard. Retrieved 13 May 2020.
- ^ Saxena, Ragini; Amin, Haslinda; Salamat, Rishaad (8 March 2022). "Ukraine war a roadblock for SCI privatisation". The Economic Times. Retrieved 7 May 2022.
- ^ "India to invest $10 billion in homegrown oil tanker fleet by 2040". Business Standard. 20 May 2025. Retrieved 2 December 2025.
- ^ Mahajan, Anilesh S. (26 May 2025). "How India's plan to build 112 crude oil tankers is a bold move for energy security, self-reliance". India Today. Retrieved 2 December 2025.
- ^ "India plans massive $10 billion purchase of 'over 100 Make in India' crude oil tankers". The Times of India. 21 May 2025. ISSN 0971-8257. Retrieved 2 December 2025.
- ^ Mishra, Twesh (26 January 2026). "Shipping Corporation of India seeks to acquire eight new very large gas carriers". The Economic Times. ISSN 0013-0389. Retrieved 29 January 2026.
- ^ "Cochin Shipyard, SDHI, L&T and GRSE-HSL team file bids to build M R tankers for oil PSUs". ETInfra.com. 23 February 2026. Retrieved 24 February 2026.
- ^ "Shipping Corporation of India signs contract with Mazagon Dock for methanol-powered supply vessel". ETInfra.com. 18 March 2026. Retrieved 20 March 2026.