SCI takes delivery of its third vessel this month

Aug 29, 2012, 2:01PM EST
Country’s largest shipping company, Shipping Corporation of India has acquired another vessel making it the third one this month and eighth in this year

Continuing to progress on its robust expansion trajectory, the state-owned Shipping Corporation of India Ltd. (SCI) has made another acquisition of new building, the third one in this month. Yesterday, it took delivery of the Panamax Bulk carrier, m.v. Vishva Vinay. The vessel is the second vessel of the four Panamax bulk carriers ordered by the company with STX (Dalian) Shipbuilding Co. Ltd., China. Orders for these vessels were placed in August 2008. 

Earlier this month the SCI had acquired two new buildings from the Cochin Shipyard Limited. The first was an Anchor Handling, Towing & Supply (AHTS) vessel “m.v. SCI Ahimsa” which joined the fleet on 07th August and a week later the company had taken delivery of a platform supply vessel (PSV) m.v. SCI Nalanda” on 14th August.

These vessels were ordered as part replacement of SCI’s Daewoo series Handymax bulk carriers which were built in 1986/87. These vessels would be of higher capacity in the Panamax size range of above 80,000 DWT each, compared to the conventional Panamax vessels of 75,000 dwt. 

m.v. Vishva Vinay” has a gross tonnage of 44,007 tonnes and dead weight of 80,139 tonnes. According to a spokesman of the company the vessel has been classed with LR and IRS and has been built to comply with the latest and most stringent international regulations. 

Despite the economic downturn strangle, the state-owned SCIs’ acquisition spree has been impressive. This year alone SCI, the country’s largest shipping company has taken delivery of eight vessels both for the offshore sector and international trading. This averages at one vessel per month.    

India is one of the growth drivers for the world economy recording impressive GDP growth compared to the developed economies. Industrial and infrastructural development plays a major role to sustain this growth. As a National carrier, SCI has been aiming to increase its presence in India’s ever increasing dry bulk trade and strengthening its bulk carrier fleet would help SCI contribute to this growth. 

With the addition of m.v. Vishva Vinay, the SCI’s fleet strength stands at 78 vessels of 5.57 million dwt. The acquisition of these vessels is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. The Company has 21 vessels on order at present out of which 6 Nos. are scheduled for delivery by the end of 2012. 

At present three shipyards in India have orders from SCI including Bharathi Shipyard Ltd., ABG Shipyard Ltd and Cochin Shipyard Ltd. The overseas shipyards with which orders for new building from SCI are pending delivery are all from China. These include STX (Dalian) Shipbuilding Co. Ltd., Jiangsu Eastern Heavy Industries Co. Ltd., Jiangsu Rongsheng Heavy Industries Co. Ltd., and Rogsheng Shenjaj Shipbuilding Co. Ltd.



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