State-run Shipping Corporation of India (SCI) has signed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd (MDL) for the construction of a 3,000 deadweight tonnage (DWT) methanol dual-fuel platform supply vessel (PSV), marking a significant step towards adopting alternative marine fuels.
According to a regulatory filing, the contract was executed on March 18, 2026. The vessel will be the first in SCI’s fleet designed to operate on green methanol, reflecting the company’s gradual shift towards cleaner and more sustainable propulsion systems.
Methanol is increasingly emerging as a viable transition fuel in global shipping, offering reduced emissions without requiring a complete overhaul of existing fuel infrastructure. SCI’s initiative aligns with India’s broader decarbonisation push under the National Green Hydrogen Mission, which aims to accelerate the adoption of low-carbon energy solutions across sectors.
Platform supply vessels play a critical role in offshore oil and gas operations, transporting fuel, drilling equipment, water, and personnel to rigs located far offshore. These vessels are specifically engineered for high stability and precise manoeuvrability, enabling them to operate efficiently in challenging marine environments.
Following the announcement, SCI’s shares surged to an intraday high of ₹244.80 before closing at ₹239. Meanwhile, shares of MDL also rallied, touching ₹2,465 during the day and settling at ₹2,459.50, up ₹97.20 or 4.11 per cent.