Indian Oil seeks 50% stakes in VLGCs as US LPG imports set to rise
Indian Oil is tendering for stakes in up to two very large gas carriers to support potentially doubling contracted US LPG imports from 2027, diversify away from Gulf supply and contain freight costs. Bids are due September 7 after an August 5 pre-bid meeting.
Indian Oil plans to acquire a 50% stake in very large gas carriers to support higher US LPG imports, reduce dependence on Gulf suppliers and manage freight costs. The state fuel retailer may buy vessels through its IndianOil LNG joint venture.
Why this matters
The tender advances IndianOil's recent move to scout LPG-carrier stakes ahead of higher US imports from 2027, linking supply diversification with more control over shipping capacity.
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