It is reported that Shipping Corporation of India plans to buy a total of 37 vessels of which 31 would be new ones over the next couple of years as trade volumes begin to recover after last year’s economic meltdown.
Mr S Hajara CMD of SCI told that “We will buy 31 new vessels by 2012.” He added that the company also plans to buy six second hand vessels to augment its fleet, for which it has already floated a tender.
Mr Hajara said that “Some tenders are under process for buying second hand vessels. At present, we want to buy at least six second hand vessels.”
He further added that vessel prices have been on the decline since the past few months and the company could look at more buys over the next five years. But Mr Hajara did not specify the amount earmarked for the purchase or the nature of funding.
(Sourced from http://www.steelguru.com)
Sunday, December 20, 2009
SCI to buy 37 vessels over next two years
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