India’s flagship company, state-owned Shipping Corp of India (SCI), appears to have regained its mojo as it earmarks about $150m to ramp up its diversified fleet over the next year.

The Mumbai-based company has grown its offshore fleet with the acquisition of a 3,350-dwt multipurpose support vessel (MPSV) and recently signed an agreement for a similar ship. It is now switching its focus towards energy transport with plans to acquire two younger, secondhand suezmax tankers and a very large gas carrier (VLGC).

SCI