India Plans to Spend $10 Billion on Homebuilt Oil Tanker Fleet

India Plans to Spend $10 Billion on Homebuilt Oil Tanker Fleet

India plans to spend 850 billion rupees ($10 billion) to purchase 112 crude carriers through 2040, people familiar with the matter said, as the world’s third-biggest importer of oil seeks to have its own fleet to secure supplies.

India targets energy sovereignty with massive domestic oil tanker buildout

India targets energy sovereignty with massive domestic oil tanker buildout May 22, 2025 Posted by: Quatro Strategies Categories: Business & Politics, India, Oil & Gas No Comments Subscribe to unlock this insight. START YOUR TRIAL NOWALREADY A MEMBER? .vc_custom_1452662201783{margin-right: 0px !important;margin-bottom: 40px !important;margin-left: 0px !important;}.vc_custom_1533640…

Govt to boost production of Made-in-India merchant vessels, cut reliance on foreign ships - India Seatrade News

The Centre has set the ball rolling to increase the fleet of large ‘Made in India’ merchant ships with an eye on joining the league of the top maritime countries of the world over the next two decades. The move stems partly from a realisation that a large fleet of merchant ships made in India is required, since foreign ships that transport merchandise to and from India may choose to stay away in case of an emergency. A situation like the recent…

India To Invest $10 Billion To Build 112 Oil Tankers Locally By 2040

Image for representation purposes only India has unveiled an ambitious plan to invest ₹85,000 crore (approximately $10 billion) to build a fleet of 112 crude oil tankers by 2040. In the first phase of the project, the government intends to purchase 79 ships, 30 of which will be medium-range carriers. The first batch of 10 tankers is expected to be ordered later this month. Only ships constructed in Indian shipyards will be considered for procure…

India to spend $10bn on 112 tankers to boost domestic shipping capacity

Sources claim move is latest part of plan to reduce reliance on overseas vessels

India launches a $10 billion plan for its tanker fleet to increase shipbuilding - Maritime Gateway

India, the third-largest oil importer in the world, intends to invest 850 billion rupees ($10 billion) to buy 112 crude transporters through 2040 in order to secure its own supply. The shipping and petroleum ministries are working to improve the state-owned oil companies’ aging fleet, which is primarily on charter from international corporations. Thirty of the 79 ships that will be purchased in the first phase of the plan are medium-range ships.…