Shipping Corporation of India Share Price in Focus; Signs Shipbuilding Contract with Mazagon Dock Shipbuilders for Green Methanol PSV

The Shipping Corporation of India Limited (SCI) has taken a significant step towards sustainable maritime operations by signing a shipbuilding contract with Mazagon Dock Shipbuilders Ltd (MDL).  

This agreement, dated March 18, 2026, marks the construction of a 3,000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV), which will be the first in SCI's fleet to operate on green methanol. 

Details of the Shipbuilding Contract 

On March 18, 2026, SCI formalised a contract with MDL for the construction of a 3,000 DWT Methanol Dual Fuel PSV. This vessel represents a pioneering move for SCI, as it will be the first in their fleet to utilise green methanol as an alternative fuel.  

This initiative aligns with the National Green Hydrogen Mission (NGHM), reflecting SCI's commitment to environmentally friendly shipping practices. 

The agreement was executed at 1315 hours, marking a notable advancement in SCI's operational strategy. The collaboration with MDL, a prominent shipbuilder, underscores the importance of sustainable development in the maritime sector. 

Significance of Green Methanol in Shipping 

Green methanol is gaining traction as a viable alternative fuel in the shipping industry. It offers a cleaner combustion process, reducing emissions, and contributing to a lower carbon footprint.  

By integrating this technology into their operations, SCI is setting a precedent for other shipping companies to follow suit. 

Read More: Biopharma SHAKTI Scheme: Strengthening India’s Biologics and Biosimilars Ecosystem! 

Alignment with National Green Hydrogen Mission 

The National Green Hydrogen Mission (NGHM) aims to promote the use of hydrogen and its derivatives, such as green methanol, in various sectors.  

SCI's initiative to incorporate a methanol dual fuel PSV aligns with the mission's objectives, showcasing the potential for alternative fuels in reducing environmental impact. 

Shipping Corporation of India Share Price Performance 

As of March 18, 2026, at 2:49 PM, Shipping Corporation of India share price on NSE was trading at ₹240.90 up by 1.80% from the previous closing price. 

Conclusion 

The Shipping Corporation of India's contract with Mazagon Dock Shipbuilders for a green methanol-powered PSV highlights a significant shift towards sustainable maritime practices. This development not only enhances SCI's fleet capabilities but also contributes to the broader goal of reducing emissions in the shipping industry. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.