Indian companies to form new support vessel companyNews // September 18, 2007
Sources in India say Shipping Corporation of India (SCI) and ONGC could be planning a joint venture in the support vessel market.
The proposed company, OnShip, would be an alliance between ONGC and SCI.
SCI hopes that OnShip will eventually become a large offshore service provider.
SCI reportedly wants to have a presence in the entire spectrum of offshore industry, especially the premium-end that includes drill ships and offshore platforms, said one source.
A third partner for the JV has not been ruled out - recent reports suggest Reliance Industries is also eyeing an entry into this sector.