SCI to acquire state-of-the-art 10 new ships for $600 mn
As a part of its tonnage acquisition and expansion plans, Shipping Corporation of India Ltd (SCI) has placed orders for ten new ships aggregating $600 million, a top company official said.
By PTI |
MUMBAI: As a part of its tonnage acquisition and expansion plans, Shipping Corporation of India Ltd (SCI) has placed orders for ten new ships aggregating $600 million, a top company official said.
"With a view to augment our fleet capacity, SCI has placed orders for ten new ships at a total capital expenditure of $600 million to be incurred in stages till the delivery of vessels between FY 08 to FY 10," SCI's Chairman, S Hajara, told shareholders at the company's 57th annual general meeting here today.
"The company has placed further orders for six more newbuilding tankers in August 2007. With this the company has an extremely healthy orderbook position with eighteen ships on order-including VLCCs ordered in FY 06," Hajara said.
Hajara pointed out that the company has more acquisitions in the pipeline, which are at advanced stages of materialisation.
The state-of-the-art newbuilding ships, which are being built to the most modern and latest specifications are not only expected to augment the company's fleet but also bring in great improvement in the fleet in terms of quality, Hajara added.
SCI has also taken several initiatives to enhance the economic life and earning potential of some of the existing vessels. It has successfully accomplished conversion of its vessel 'Maharshi Karve' from single hull to double hull tanker. In addition to the upgradation of OSVs, a few more tankers are also being converted from single hull to double hull, he added.
"With a view to augment our fleet capacity, SCI has placed orders for ten new ships at a total capital expenditure of $600 million to be incurred in stages till the delivery of vessels between FY 08 to FY 10," SCI's Chairman, S Hajara, told shareholders at the company's 57th annual general meeting here today.
"The company has placed further orders for six more newbuilding tankers in August 2007. With this the company has an extremely healthy orderbook position with eighteen ships on order-including VLCCs ordered in FY 06," Hajara said.
Hajara pointed out that the company has more acquisitions in the pipeline, which are at advanced stages of materialisation.
The state-of-the-art newbuilding ships, which are being built to the most modern and latest specifications are not only expected to augment the company's fleet but also bring in great improvement in the fleet in terms of quality, Hajara added.
SCI has also taken several initiatives to enhance the economic life and earning potential of some of the existing vessels. It has successfully accomplished conversion of its vessel 'Maharshi Karve' from single hull to double hull tanker. In addition to the upgradation of OSVs, a few more tankers are also being converted from single hull to double hull, he added.
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