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.[9] This included the procurement 112 tankers at a cost of inr 850000000000 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 inr 198200000000. This will have a cumulative internal volume of 1.18 million gross tonnes. Overall, the firm plans to buy 207 vessels at inr 1500000000000.[15][16]
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.[17] Swan Defence and Heavy Industries (SDHI) has partnered with Samsung Heavy Industries for the contract. The ships will be owned by a planned joint venture of SCI and four state-owned oil firms.[18]
As of 23 February 2026, the carrier has floated a tender for a firm order of two 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 L&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.[19]
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.[20]
