SCI signs MoU with BPCL, HPCL and IOCL for operation of crude oil tankers

Shipping Corporation of India Limited (SCI) has signed an MoU with BPCL, HPCL and Indian Oil Corporation Limited (IOCL) for the operation of a fleet of crude oil tankers. As per the agreement, the companies are expected to jointly acquire, own, operate and manage the vessels. The vessels would be used for petroleum, petroleum products, petrochemicals and other hydrocarbon cargo for international trade and coastal transport. The move is expected to strengthen the shipping capacity in the country, improve energy security and support the Atmanirbhar Bharat vision.