Indian Oil, BPCL and HPCL Plan $600 Million Tanker Order to Boost Domestic Shipbuilding

Bharat Petroleum Corp., and Hindustan Petroleum Corp. aim to issue a tender for medium-range tankers later this year. The estimated value of this proposal could reach up to $600 million, with delivery expected to commence by 2028. According to unnamed sources, Indian Oil is anticipated to own six of the vessels, while BPCL and HPCL will each take ownership of two. This strategic move highlights India's focus on increasing its domestic shipbuilding capacity. Despite having 40 shipyards, only four in the country can produce vessels larger than medium-range tankers. Source: [The Hindu Business Line](https://www.thehindubusinessline.com/economy/logistics/indian-oil-bpcl-and-hpcl-plan-tanker-order-for-domestic-use-in-move-to-boost-shipbuilding-industry/article69681528.ece).