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    Indian companies to form new support vessel company

    News // 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.


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