India teams up with Korea to build its own oil and gas ships

Business Nov 15, 2025

India wants to rely less on foreign tankers, so it's reaching out to Korean shipyards for help building oil tankers and LNG carriers.
Petroleum Minister Hardeep Singh Puri met with top Korean companies, saying this move will boost India's energy security and infrastructure.

Big joint venture aims for 59 new vessels

A new partnership between Shipping Corporation of India (SCI) and major state-run oil companies plans to buy 59 ships.
SCI will hold half the shares, oil firms get 40%, and a maritime fund covers the rest.
The deal is expected soon—with new ship orders coming next month—as part of India's push to be more self-reliant on energy imports, which cost the country about $150 billion every year.