Shipping plan: 62 vessels with ₹51,383 crore in FY27
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An inter-ministerial review on the Strait of Hormuz situation, held on 29 April 2026, set a roadmap to add 62 vessels in FY 2026-27 backed by ₹51,383 crore, adding 2.85 million GT of capacity. It also reviewed the SCI–oil PSU joint venture to acquire 59 vessels and asked for a white paper on gaps and targets.
- Trigger
- Strait of Hormuz situation
- Plan
- 62 vessels in FY 2026-27
- Money
- ₹51,383 crore
- Capacity
- +2.85 million GT
- JV
- SCI + oil PSUs to acquire 59 vessels
- Next step
- White paper on gaps, targets and a time-bound roadmap
India’s fleet expansion plan: what happened?
When a key sea route is disrupted, a country that depends on foreign ships pays more and waits longer. India wants more Indian-owned ships for oil, gas and containers.
- Vessel types: container ships, LPG and crude carriers, green tugs, dredgers and tankers.
- Petroleum, Fertilisers, Commerce (DGFT), DG Shipping and the National Shipping Board took part.
- Agencies told to keep high vigilance for seafarers in sensitive zones.
What is GT?
- Gross tonnage, a measure of a ship’s overall internal volume, used to express fleet capacity.
Why does India’s fleet expansion plan matter?
- Energy security: Own tankers and LPG carriers protect supplies.
- Economy: Less freight paid to foreign shipowners.
What can Prelims ask on India’s fleet expansion plan?
- FY 2026-27 plan: 62 vessels, ₹51,383 crore, 2.85 million GT.
- SCI–oil PSU JV: 59 vessels.
How to use this in Mains
- As per PIB (2026-04-29): india plans 62 vessels in FY 2026-27 with ₹51,383 crore investment and targets 2.85 million GT capacity addition.
- India wants more of its trade carried in Indian ships, and this is the build plan for that.
Quotable data pointIndia plans 62 vessels in FY 2026-27 with ₹51,383 crore investment and targets 2.85 million GT capacity addition.
PIB: Shipping: FY27 vessel plan, 29 Apr 2026
Exam angle
Prelims: shipbuilding schemes.
Practice MCQs
Original practice questions (not PYQs).
The joint venture between Shipping Corporation of India and oil PSUs, reviewed in April 2026, aims to acquire how many vessels?
Answer (c) & explanation
PIB (Shipping), 29 April 2026.
Questions students ask about this
What is India's fleet plan for FY 2026-27?
To add 62 vessels backed by ₹51,383 crore, adding 2.85 million GT of capacity.
Why was the review held?
To respond to the Strait of Hormuz situation and make shipping supply chains more resilient.
What is the SCI–oil PSU joint venture for?
To acquire 59 vessels.
Keep studying
Go deeper
Official source: PIB: Shipping: FY27 vessel plan, 29 Apr 2026
facts from cited sources only; faculty review pending