Indian Oil plans own oil and LPG ships as freight costs climb
Indian Oil Corporation is considering acquiring its own fleet of carriers to strengthen its shipping logistics. The company is also exploring shipbuilding ventures within India under the Make in India initiative. Rising geopolitical tensions have pushed shipping costs higher, prompting these strategic moves. IOC has additionally broadened its crude oil sourcing to reduce supply disruption risks and capture market opportunities. The company reported significant earnings in its most recent quarter.
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