Shipping Corporation of India Share Price in Focus; Likely to Acquire 26 Local Vessels in $2.3 Billion Deal

State run Shipping Corporation of India Ltd (NSE: SCI), the nation’s largest shipping line, will likely acquire 26 domestically built ships at an estimated cost of ₹198.2 billion ($2.3 billion). The move forms part of a government backed initiative aimed at strengthening India’s shipbuilding capabilities, as per news reports.

Part of India’s Push to Expand Shipping Fleet and Boost Energy Security

This likely procurement comes as other Indian companies in the petroleum, natural gas, steel, and fertiliser sectors also step up vessel acquisitions. Collectively, these buyers, along with SCI, aim to purchase 207 ships worth nearly ₹1.5 trillion.

The initiative aligns with India’s long-term plan to acquire 112 crude carriers by 2040, as per Bloomberg report, supporting the country’s position as the world’s third largest importer of oil.

The deal if goes through is expected to significantly strengthen SCI’s fleet, which currently consists of 55 ships, including tankers, bulk carriers, liners, and offshore supply vessels.

SCI Share Price Performance

Shipping Corporation of India (SCI) shares were trading at ₹204.62, up ₹2.26 or 1.12% at 9:25 AM on the NSE from the previous close of ₹202.36. The stock opened at ₹203.69 and touched an intraday high of ₹205.82 and a low of ₹203.02. The volume weighted average price (VWAP) stood at ₹204.61.

Conclusion

SCI’s planned vessel purchases mark a major step in bolstering both its operational capacity and India’s domestic shipbuilding industry. With parallel orders from other sectors, the initiative could significantly expand the country’s shipping tonnage in the years ahead.

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