Shipping Corporation of India (SCI) has signed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd for a 3,000 deadweight tonne (DWT) platform supply vessel (PSV), powered by green methanol dual-fuel technology.

A PSV is used to support offshore oil and gas operations, including transporting supplies, equipment and personnel.

This will be the first vessel in SCI’s fleet designed to run on an alternative fuel, aligning with the government’s broader push towards greener shipping under the National Green Hydrogen Mission. The development signals an early shift in India’s maritime sector towards lower-emission fuels such as green methanol.

Shares of SCI rose following the announcement, hitting an intraday high of ?244.80 and trading around ?242.55, up over 2% on the NSE. Mazagon Dock Shipbuilders shares also gained, rising nearly 4.5% intraday.

The move comes amid improving financial performance for SCI. In the December quarter, a sharp rise in tanker segment earnings helped more than double net profit, with operating profit from the segment jumping significantly year-on-year, even as the liner business remained under pressure.

Source: CNBC TV 18 

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