Indian Oil Eyes Stakes In Gas Carriers To Cut U.S. LPG Freight Costs
Indian Oil Corp. is seeking 50% ownership stakes in very large gas carriers, a first for an Indian refiner, as the company prepares to transport higher volumes of U.S. liquefied petroleum gas under India’s plan to source up to one-quarter of its LPG imports from the United States in 2027 and reduce its exposure to charter-market freight rates, the Business Standard reported on Wednesday. Indian Oil is accepting bids for ships with carrying capacity between 80,000 and 93,500 cubic meters. Eligible vessels must be no more than 12 years old.…