SCI to Buy 76 Ships for $3.3B

Wednesday, April 19, 2006
Shipping Corp. of India Ltd. plans to buy 76 vessels for about $3.3b over the next six years, The Financial Express reported. This is the first major fleet acquisition proposal by the state-run carrier in recent years. The ships would be bought through the rest of the 10th plan period and end of the 11th plan till 2012. The 10th plan is the official span for development budgeting by the government between 2002 and 2007. The 11th plan would cover the following five years. (Source: The Financial Express)

Shipbuilding

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

Croatia’s Jadrolinija to Buy New Passenger Ship

Croatia’s  largest national passenger shipping company Jadrolinija plans to expand its fleet with a new passenger ship, with the total cost of about 50 million euros, reports Poslovni.

Casualties

Indian Cargo Ship Sinks Off Oman

An Indian cargo ship loaded with vehicles and food supplies destined for Yemen sank on Saturday off the coast of Oman but without loss of life, Oman’s ONA state news agency reported.

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

 
 
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