The Shipping Corporation of India (SCI) reported a 60.3 per cent jump in consolidated profit after tax for FY2025-26, driven by surging tanker rates amid Middle East tensions, reports Tel Aviv's Investing.com.

SCI posted a profit of INR 140 billion (US$ 1.46 million), with standalone operating revenue rising 3.3 per cent to INR 5,778 crores. EBITDA climbed 34.3 per cent to INR 2,633 crores, while profit before tax surged 69.8 per cent to INR 1,396 crores. Return on equity improved to 16.34 per cent.

Earnings per share rose 62.8 per cent to INR 28.47, and dividends increased to INR 349.34 crores. The market responded positively, with shares trading at INR 339.05 on the results date.

The tanker segment was the key driver, generating INR 3,942 crores in revenue and INR 1,190 crores in profit before interest and taxes. VLCC charter rates on Middle East routes spiked to as high as US$ 436,000 per day in March 2026, following disruptions in the Strait of Hormuz.

Bulk carriers recorded revenue growth to INR 789 crores but posted a PBIT loss of INR 19 crores. The liner/container segment saw revenue fall to INR 784 crores, with PBIT dropping to INR 75 crores, though coastal trade remained strong with 10 per cent freight rate increases.

SCI operates 58 owned vessels with a total capacity of 5.26 million DWT. Fleet expansion includes two Very Large Gas Carriers, new MR and Aframax tankers, and six container ships. The company also signed MoUs with energy CPSEs and port authorities to strengthen petroleum transport and integrated logistics.

Management highlighted tanker market volatility, strong dry bulk fundamentals, and product tanker gains from longer voyages and congestion. SCI expressed confidence in coastal trade growth and offshore opportunities while pursuing sustainable shipping with its first methanol dual-fuel vessel.