According to Indian media reports, the Shipping Corporation of India (SCI) has issued a tender to domestic shipyards for the construction of four methanol-dual-fuel-ready Aframax tankers, with the project valued between $300 million and $340 million.
If the project proceeds smoothly, these will become the first Aframax tankers built by an indigenous Indian shipyard.
It is reported that Aframax tankers are medium-sized crude oil carriers with a deadweight capacity typically ranging between 80,000 and 120,000 tons. Capable of transporting approximately 600,000 to 750,000 barrels of crude oil or refined products, they are well-suited for deployment on short-to-medium-haul routes and at smaller ports.
In terms of construction costs, the price of a standard Aframax tanker powered by conventional fuels ranges from $70 million to $75 million. The four new vessels planned by SCI, featuring a methanol dual-fuel design, will entail a corresponding increase in cost; based on the project’s overall valuation, the price per vessel is estimated to fall between $75 million and $85 million.
Notably, in addition to the four oil tankers mentioned above, SCI is planning India’s largest shipbuilding project to date, involving eight 88,000 m³ Very Large Gas Carriers (VLGCs) with a total construction cost of approximately $950 million.
According to SCI’s plan, two VLGCs will be commissioned to international shipyards that have delivered at least three VLGCs in the past five years; the remaining six will be built at Indian shipyards by the same international shipyard through technical cooperation, collaboration, joint ventures, or strategic alliances.
SCI’s current tender, directed exclusively at indigenous Indian shipbuilders, represents the company’s latest initiative to support the development of India’s shipbuilding industry. India has set ambitious targets, aiming to secure a place among the top ten global shipbuilding nations by 2030, and to rise to the top five by 2047.
Since the beginning of this year, Indian shipbuilders have publicly announced several orders for dual-fuel vessels. In February, CMA CGM announced the firming up of an order with Cochin Shipyard for six 1,700 TEU LNG dual-fuel feeder container ships; additionally, SCI placed an order with India’s MDL shipyard for one alcohol dual-fuel Platform Supply Vessel—the first vessel in SCI’s fleet specifically designed to utilize alternative fuels (specifically green methanol).
Another noteworthy order has been secured by the Indian shipyard SDHI: four 92,500 DWT ammonia dual-fuel bulk carriers commissioned by Energy ONE. These represent the first ammonia dual-fuel vessels to be built by an indigenous Indian shipyard, as well as some of the largest commercial vessels ever undertaken by a domestic Indian yard to date, marking a significant stride forward for India’s shipbuilding industry in terms of both technological capability and scale.