India’s Largest Shipbuilding Carrier Signs Contract for Green Methanol Vessel

On Wednesday, Shipping Corporation of India are in focus after the company announced that it has executed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd for the Construction of one 3000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV). The vessel will be the first in SCI’s fleet designed to operate on green methanol, aligning with the National Green Hydrogen Mission. As of March 18, 2026, the share price is trading at Rs 240.55.

Shipping Corporation of India signs shipbuilding contract for green methanol vessel

Shipping Corporation of India has executed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd for the construction of one 3000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV). The vessel is planned to operate on green methanol and will be the first of its kind in the company’s fleet, aligned with the National Green Hydrogen Mission.

Previous order update

In continuation of its earlier disclosure, Shipping Corporation of India has received an order dated March 11, 2026, from the Joint Commissioner of State Tax (Appeal-IV), Mumbai, confirming a revised demand of Rs 60.06 crore. The demand includes a tax component along with applicable interest and penalty, primarily related to a mismatch of Input Tax Credit (ITC) with GSTR-2A. The company is currently reviewing the order and evaluating further steps, including the possibility of filing an appeal.

Shareholding Pattern: FII increases stake

FII holding in Shipping Corporation of India Ltd witnessed a QoQ increase to 7.13 per cent in December 2025 from 6.49 per cent in September 2025. Promoter holding remained stable at 63.75 per cent QoQ, while DII holding declined to 2.41 per cent from 2.58 per cent. Meanwhile, public shareholding also declined QoQ to 26.72 per cent from 27.19 per cent.

About the Shipping Corporation of India

Shipping Corporation of India Ltd is a Government of India-owned enterprise engaged in the business of maritime transportation. The company operates a diversified fleet that includes bulk carriers, tankers, container vessels, and offshore supply vessels, catering to both domestic and international markets. It plays a key role in supporting India’s overseas trade and energy transportation needs, while also providing services to the oil and gas sector.

The company has a market capitalisation of Rs 11,233 crore. It reported a Return on Capital Employed (ROCE) of 9.81 per cent and a Return on Equity (ROE) of 10.5 per cent. The company’s book value stands at Rs 183 per share.

Disclaimer: The article is for informational purposes only and not investment advice.