Shipping Corporation of India (SCI) is currently in talks with GAIL (India) Limited to form a joint venture where GAIL will secure USD 3 billion for the purchase of nine LNG ships which will be run by SCI, a senior official at SCI was reported saying.
Sarveen Narula, SCI Director for liner and passenger services, said once the tie-up is formed and it gets all the necessary approvals, SIC will have the option to own 25 per cent stake in the formed company, according to The Economic Times.
“The Memorandum of Understanding is being finalised. We are already in talks with them. Very soon it will be done. It is brokered through the Government,”Narula said.
Narula also said that GAIL will finance the purchase of the ships which are estimated at USD 300 to 350 million each, with SCI bringing to the table its expertise and lessons learned from similar LNG joint ventures.
SCI is currently managing four LNG ships in a joint venture with Japanese partners, where it has a 26 per cent stake.
Back in June 2013, the two companies signed the Memorandum of Understanding for transporting the U.S. LNG to India in 2016-17.
LNG imports accounted for 5.5 per cent of India’s total trade in 2013, making the country fifth largest importer of liquefied natural gas.
For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.
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Over 7,600 participants attended Breakbulk Europe 2016
Meet with over 400 exhibitors and sponsors
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Ferry travel is in the limelight. The potential for driving tourism growth is immense – and for archipelago nations battling with urban congestion, ferry services pose a clean, efficient alternative in everyday public transport. But high-profile ferry accidents have brought ever greater attention to safety regulations for Asia’s maritime travel industry.
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