Shipping Corporation of India

What Shipping Corporation of India does

Shipping Corporation of India Ltd. (SCI) is India's state-owned national shipping carrier, incorporated in 1961 and listed on BSE and NSE under the ticker SCI. The company operates a diversified maritime fleet including VLCC, Aframax, and Suezmax crude oil tankers; product tankers; LNG carriers (138,000-173,000 cubic meters); VLGC LPG carriers (53,503 DWT); dry bulk carriers; container vessels (SMILE coastal service, IPAK India-Europe); offshore support vessels (AHTSV, PSV, MPSV with DP2 capability); and passenger ferries for the Andaman & Nicobar Administration. SCI provides technically differentiated services including ship-to-ship (STS) lighterage operations pioneered since 1975 and Single Point Mooring (SPM) tandem mooring at Mumbai High and Panna Oilfield for ONGC and Shell/BG.

SCI's business model is built on long-term time charters with Indian public-sector oil and gas companies (Petronet LNG, Indian Oil Corporation, ONGC, BPCL, HPCL), supplemented by Contracts of Affreightment (COAs) for crude oil movement to refineries, spot market voyage charters, and government-mandated coastal passenger services. Revenue streams include subscription-style recurring time charter income, transaction-based voyage charters, usage-based spot market exposure, and managed passenger services. The company employs approximately 3,000 seafarers and shore employees, supported by its Maritime Training Institute in Powai and three wholly-owned subsidiaries (Inland & Coastal Shipping Ltd, SCI Land and Assets Ltd, and SCI Bharat IFSC Limited in GIFT City).

The company is positioned as the central vehicle for India's Atmanirbhar maritime expansion, with the government reversing its 2019 divestment approval and announcing a Rs 1 trillion infusion plan to grow the fleet to 216 vessels by 2047, including 62 new vessel additions in FY27 alone. SCI is leading two new joint ventures—a Bharat Container Shipping Line with CONCOR and major ports and a crude oil tanker JV with oil marketing companies—with combined investment of approximately Rs 12,000 crore. The company also plays a strategic diplomatic role: SCI-managed vessels were the first Indian-flagged ships to successfully transit the Strait of Hormuz during the 2026 West Asia conflict following diplomatic negotiations with Iran.

Name

Shipping Corporation of India

Legal name

The Shipping Corporation of India Ltd.

Website

https://shipindia.com

Company type

Public

Founded year

1961

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shipping Corporation of India is India's state-owned national maritime carrier operating tankers, LNG and LPG carriers, bulk carriers, container vessels, offshore support ships, and passenger ferries for PSU energy companies and government clients under long-term time charters, COAs, and spot voyage charters.

Ownership category

akta.pro rank

Product category

Maritime Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Water Transportation (483), Marine Cargo Handling (488320), Support Activities for Water Transportation (4883)

SIC

Water Transportation (4400), Deep Sea Foreign Transportation Of Freight (4412), Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

akta.pro secondary industry

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)

Keywords

• Maritime shipping services
• Tanker transportation
• LNG carrier operations
• Coastal cargo services
• Offshore support vessels

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. Time Charter Contracts: Long-term time charters to Petronet LNG for LNG carriers and Indian Oil Corporation for LPG vessels. Provides stable, predictable revenue streams with vessels employed on multi-year contracts.
2. Contract of Affreightment (COA): Contracts of Affreightment with oil refiners for crude oil transportation. SCI deploys owned and in-chartered tonnage to meet COA obligations for lifting nominated cargo quantities.
3. Spot Market Voyages: Voyage charters in international markets including cross-trading. Elevated spot freight rates during geopolitical disruptions (e.g., Strait of Hormuz tensions) drove 14.2% revenue growth to Rs 1,513.21 crore in Q4 FY26.
4. Offshore Vessel Charters: AHTSV and PSV vessels chartered to ONGC for offshore oilfield operations including anchor handling, towing, platform supply, and ERRV services.
5. Passenger and Coastal Services: Passenger ferry services for Andaman Nicobar Administration connecting mainland to island territories. Coastal shipping services (SMILE, CCG) for Indian traders on fixed day, fixed window basis.
6. Shipbuilding and Technical Consultancy: Technical consultancy assistance for tonnage acquisition to various government organizations including Andaman Nicobar Administration, Lakshadweep UT, Geological Survey of India, and Directorate General of Lighthouses.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

SCI operates a diversified maritime fleet providing crude oil, LNG, LPG, product, bulk, and container shipping services. It also runs offshore support vessels for oil and gas exploration, passenger ferry services for the Andaman and Nicobar Administration, and technical consultancy for tonnage acquisition.

Product overview

The Shipping Corporation of India (SCI) operates a diversified maritime fleet offering comprehensive shipping services through multiple vessel segments. The core product portfolio includes crude oil and product tankers (VLCC, Aframax, Suezmax), LNG carriers (138,000-173,000 m³ capacity), VLGC LPG carriers, dry bulk carriers, container services (SMILE coastal and IPAK India-Europe routes), breakbulk cargo, offshore support vessels (AHTSV, PSV, MPSV), and coastal passenger services including Andaman operations. Supporting services include chartering, lighterage operations, dry docking, and shipbuilding consultancy. The company has three subsidiaries: Inland and Coastal Shipping Ltd (inland waterways), SCI Bharat IFSC Limited (GIFT City financial services), and Maritime Training Institute (maritime education). The fleet is operated for Indian PSUs including ONGC, Indian Oil, and Petronet LNG, as well as international cross-trading.

Differentiator

Problem solved

Functional benefit

Brands

• SMILE: SCI Middle East India Liner Express - coastal shipping service connecting Persian Gulf with East Coast and West Coast of India
• IPAK Service
• Bharat Container Shipping Line

Products and services

• Crude Oil Shipping Services Transport of crude oil cargoes via SCI's tanker fleet for Indian PSU oil companies and other charterers requiring large-volume crude logistics.
• LNG Carrier Services Transportation of liquefied natural gas using SCI's LNG carrier fleet, supporting India's energy import requirements.
• LPG Shipping Services Sea transport of liquefied petroleum gas via SCI's LPG carrier tonnage for PSU oil marketing companies and industrial customers.
• Product Tanker Services Maritime transport of refined petroleum products using SCI's product tanker fleet for domestic and cross-border trade.
• Bulk Carrier Services Transportation of dry bulk cargoes (such as coal, iron ore, and other minerals) using SCI's bulk carrier fleet for industrial and trading customers.
• Container Shipping Services Containerized cargo shipping services provided through SCI's container vessel fleet for liner and charter customers.
• Offshore Support Vessel Services Provision of offshore vessels supporting oil and gas exploration and production activities, including platform supply and rig support.
• Passenger Ferry Services Passenger ferry operations provided to the Andaman and Nicobar Administration as a government service contract.
• Technical Consultancy for Tonnage Acquisition Technical advisory services related to tonnage acquisition for shipping industry clients.

Quantifiable outcome

• Q4 FY26 net profit surged 118.5% YoY to Rs 404.60 crore; full-year profit up 60.4% to Rs 1,352.92 crore
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core, strategic and minor.

• Synergy Marine GroupcoreStrategic or Co-development Partner · 6 April 2026MoU signed between SCI subsidiary SCILAL and Synergy Marine Group for maritime capability development. Collaboration focuses on training cadets through Diploma in Nautical Studies programme. Seafarer training agreement covering maritime development and ship management partnership.
• Oil Marketing Companies (IOC, BPCL, HPCL)coreStrategic or Co-development PartnerJoint venture between SCI and oil PSUs to acquire 59 vessels for crude oil transportation. Combined stakeholder investment of approximately Rs 12,000 crore. Part of SCI's expanded role as central vehicle for domestic maritime expansion under Atmanirbhar initiative.
• Container Corporation of India (CONCOR)coreStrategic or Co-development PartnerBharat Container Shipping Line JV among SCI, CONCOR, Maritime Development Fund, and three major ports. Cabinet note circulated targeting fleet of 51 container vessels over 15 years to reduce dependence on foreign container shipping lines.
• Petronet LNG LtdcoreChannel Partner/ Reseller/ DistributorSCI-led consortium manages LNG carriers chartered by Petronet LNG. Vessels Disha, S.S. Raahi, S.S. Aseem, and Prachi on long-term time charter. LNG carrier Disha became first vessel to transit Hormuz after US-Iran peace agreement, carrying 62,370 MT LNG from Qatar.
• Indian Oil Corporation LtdcoreChannel Partner/ Reseller/ DistributorIndian Oil charters LPG carriers Shivalik and Nanda Devi from SCI for Qatari LPG transportation. Vessels successfully crossed Strait of Hormuz during March 2026 crisis carrying approximately 92,700 MT of LPG.
• Oil and Natural Gas Corporation (ONGC)coreChannel Partner/ Reseller/ DistributorSCI operates offshore support vessels (AHTSV, PSV, MPSV) chartered to ONGC for Mumbai High and offshore operations. Vessels include SCI Panna, SCI Mukta, SCI Pawan, SCI Kundan, SCI Ahimsa, SCI URJA, SCI Nalanda, SCI Yamuna, SCI Sabarmati, and SCI Saraswati.
• Andaman and Nicobar AdministrationcoreChannel Partner/ Reseller/ DistributorSCI acts as agent for Andaman Nicobar Administration managing passenger vessels between mainland (Chennai, Kolkata, Vizag) and Sri Vijaya Puram. Operates 8 inter-island vessels, 17 fore shore vessels, and cargo vessel M.V. Chuglam.
• Mazagon Dock Shipbuilders Limited (MDL)strategicImplementation/ SI/ Consulting PartnerSCI executed shipbuilding contract with MDL valued at $39 million (Rs 364 crore) for construction and sale of 3000 DWT Methanol Dual Fuel Platform Supply Vessel. Regular business activity for vessel acquisition.
• Indian Oil Corporation (for reference - energy customer)coreChannel Partner/ Reseller/ DistributorIndian Oil is major customer for crude transportation; Q4 2026 earnings beat forecasts with EPS of 10.5 INR vs expected 5.1 INR; diversified crude and LPG sourcing strategy; record refining throughput.
• Shell/BG (Panna Oilfield)minorChannel Partner/ Reseller/ DistributorSCI Mooring Masters perform mooring and tandem mooring operations at Panna Oilfield for Shell/BG following previous operations for Enron and British Gas.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• BW LPG: World's largest VLGC (Very Large Gas Carrier) owner-operator for LPG transportation. Directly comparable to SCI's VLGC LPG carrier business on long-term charter to Indian Oil Corporation.
• International Seaways: Operator of a mixed fleet including crude, product tankers and VLCCs. Comparable to SCI's tanker-heavy fleet mix and exposure to spot rate cycles.
• DHT Holdings: Independent operator of crude oil tankers (VLCCs) listed in the US. Highly relevant comparable for SCI's largest vessel segment and spot rate exposure dynamics.
• Stolt-Nielsen Limited: Diversified shipping company operating chemical tankers alongside LNG/FSRU and seabed-to-surface activities. Comparable to SCI's mixed specialized vessel portfolio including LNG management.
• Frontline: Global pure-play VLCC and Suezmax operator; directly comparable to SCI's crude tanker segment which forms the largest portion of SCI's revenue and spot exposure.
• Great Eastern Shipping Company: India's largest private-sector shipping company operating a diversified fleet of tankers, dry bulk carriers, and offshore support vessels serving Indian and international clients. Closest domestic peer to SCI given overlapping fleet composition and Indian client base.
• SeaStar Line / Waterman Steamship (non-container bulk peers through Star Bulk): Global pure-play dry bulk carrier owner with large fleet. Comparable to SCI's bulk carrier segment which contributes meaningful cargo capacity.

Broad incumbents

• China Merchants Energy Shipping: State-owned Chinese shipping conglomerate operating VLCCs, bulk carriers, container vessels and LNG carriers. Closest international state-owned diversified peer to SCI in fleet composition and policy-driven expansion.
• COSCO Shipping Holdings: State-owned Chinese global liner and tanker operator with extensive container and bulk operations. Comparable as a sovereign-backed diversified shipping major competing in similar trade lanes.

Regional players

• Essar Shipping: Indian-owned shipping company historically operating tankers, bulk carriers and offshore vessels serving Indian industrial and PSU clients. Closest private Indian counterpart to SCI's domestic charter book.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/shippingcorp
• LinkedInlinkedin.com/company/the-shipping-corporation-of-india-ltd.

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shipping Corporation of India