EOI for eight gas carriers marks India’s biggest leap yet in complex shipbuilding.

Indian Shipyards, Global Majors Vie for $1 Billion VLGC Build Contract.

Cochin Shipyard Ltd, Swan Defence and Heavy Industries Ltd and L&T Shipbuilding Ltd have submitted expressions of interest to Shipping Corporation of India Ltd for building eight very large gas carriers (VLGCs) in a deal valued at about $1 billion. Each vessel will have a capacity of 88,000 cubic metres. Cochin Shipyard has partnered with HD Korea Shipbuilding & Offshore Engineering, SDHI with Samsung Heavy Industries, and L&T Shipbuilding with Hanwha Ocean. As per the EOI, two VLGCs will be built overseas, while six will be constructed in India through technical collaborations. The project, led by SCI’s proposed JV with Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, ONGC and Sagarmala Finance, aligns with India’s ambition to enter the global top ten shipbuilding nations by 2030.