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

Shipping Corp, Mazagon Dock Ink Green Methanol Vessel Deal, Shares Surge

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CNBC TV18•18-03-2026, 15:15

Shipping Corp, Mazagon Dock Ink Green Methanol Vessel Deal, Shares Surge

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

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