Shipping Corp signs contract with Jiangsu Eastern

NEW DELHI: Shipping Corporation of India, the largest domestic shipping liner, on Monday said it has signed a contract for acquisition of four Kamsarmax Bulk Carriers of about 80,000 DWT each, with Jiangsu Eastern Heavy Industries.

'The Company has signed the shipbuilding contract for acquisition of four Kamsarmax Bulk Carriers of about 80000 DWT each, with Jiangsu Eastern Heavy Industries Co Ltd on September 25, 2010,' the company said in its regulatory filings.

However, proposed investment in the acquisition of bulk carriers could not be ascertained as company officials could not be contacted.

Shares of Shipping Corporation of India were quoted today at Rs 163 apiece on Bombay Stock Exchange, up 0.31 per cent.