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Shipping Corp Inks Green Methanol Vessel Deal with Mazagon Dock
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Shipping Corp, Mazagon Dock Ink Green Methanol Vessel Deal, Shares Surge
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CNBC TV18
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18-03-2026, 15:15
Shipping Corp, Mazagon Dock Ink Green Methanol Vessel Deal, Shares Surge
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Shipping Corporation of India (SCI) signed a contract with Mazagon Dock Shipbuilders Ltd for a 3,000 DWT platform supply vessel (PSV).
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The PSV will be powered by green methanol dual-fuel technology, marking SCI's first alternative fuel vessel.
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This initiative aligns with India's National Green Hydrogen Mission, signaling a shift towards lower-emission fuels in the maritime sector.
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Following the announcement, SCI shares rose over 2%, and Mazagon Dock shares gained nearly 4.5% intraday.
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The deal comes as SCI reports improved financial performance, with tanker segment earnings boosting Q3 net profit.
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