Govt aggregating PSUs’ demand to ensure  long-term charters for Indian carriers

MUMBAI, Oct 29: The Government is aggregating PSUs’ cargo demand to ensure long-term charters for Indian carriers to reduce recurring cost of crude oil imports , Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday. Addressing ‘India Maritime Week 2025’, Puri further said that the Government is also advancing the ship owning and leasing entity model to boost domestic ownership. “Oil marketing companies use vessels for crude imports. To reduce recurring cost through ownership of vessels (ships), we are aggregating PSU cargo demand to ensure long-term charters for Indian carriers, advancing the ship owning and leasing entity model to boost domestic ownership, establishing a maritime development fund, launching shipbuilding financial assistance,” he said.