Mumbai, Jan. 28 -- The contracts were signed on 27 January 2026 through ONGC's joint venture companies with Japan's Mitsui O.S.K. Lines (MOL). The shipbuilding agreement was executed with Samsung Heavy Industries of South Korea.

The two vessels will be owned and operated by Bharat Ethane One IFSC and Bharat Ethane Two IFSC Both entities are incorporated at GIFT City, Gujarat. Each joint venture will own one vessel.

The Very Large Ethane Carriers will have a cargo capacity of about one lakh cubic metres each. They will transport ethane from the US to India under long-term time charter agreements signed with ONGC.

The vessels are expected to support the transportation of nearly 600 thousand tonnes per annum of ethane for ONGC Petro addit...