SCI Seeks Bids for 8 VLGCs with 6 Domestic Build Mandate and Press Note 3 Compliance

Shipping Corporation of India (SCI) has called for bids to acquire 8 new very large gas carriers (VLGCs), as per news reports.  

The tender mandates that 6 of these vessels be built locally in India, while 2 can be constructed by international shipyards. This move aligns with the government's push for domestic shipbuilding and adherence to Press Note 3 restrictions. 

Details of the Tender 

SCI has floated an Expression of Interest (EoI) document seeking bids for the acquisition of 8 new very large gas carriers. The tender specifies that 6 of the vessels must be built in India, supporting the domestic shipbuilding industry. The remaining two vessels can be delivered by international shipyards. 

Bidders from countries sharing a land border with India must be registered with the Competent Authority to ensure compliance with Press Note 3 restrictions. This measure is aimed at limiting Chinese investments and participation in sensitive tenders. 

Read More: Adani Ports to Invest ₹16,000 Crore in Phase 2 Vizhinjam Seaport Expansion! 

Press Note 3 Compliance 

The tender reiterates the application of Press Note 3 restrictions, which are designed to keep a check on foreign investments and participation in sensitive sectors.  

This ensures that only eligible bidders can participate in the tender process, maintaining national security and economic interests. 

Shipping Corporation of India Share Price Performance  

As of January 27, 2026, at 9:18 AM, Shipping Corporation of India share price on NSE was trading at ₹199.19 down by 1.26% from the previous closing price. 

Conclusion 

SCI's move to acquire 8 new gas carriers with a mandate for local build and Press Note 3 compliance underscores its commitment to supporting domestic shipbuilding and adhering to national regulations. This strategic initiative aims to enhance India's maritime capabilities while ensuring compliance with regulatory frameworks. 

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