India Steamship to Buy Tankers

Friday, March 24, 2006
India Steamship, a company of the K K Birla group managed out of Kolkata by C S Nopany, is planning for mega expansion, the Business Standard reported. The outfit, which is now a part of Chambal Fertilisers and Chemicals, would invest $206 million for doubling its fleet of tankers. Nopany said the company had already signed a MOU with a Greek company for acquiring a ship. India Steamship had three single hull tankers at present. Two tankers had a capacity of 96,000 ton each and the third had capacity of 60,000 ton. According to Nopany, majority of the proposed investment of over Rs 900 crore would be financed through borrowings. Nopany said that the company had signed a contract for delivery of two tankers with Ulsan-based Hyundai Heavy Industries of South Korea. These two ships would be delivered in the later half of 2008. Each new tanker would have a capacity of 105,000 ton. (Source: Business Standard)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

GDI Awards N-KOM US$110-M Contracts

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts

Hyde Marine Makes BWTS Installation Agreements

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, says it has established two partnership agreements for installation of the chemical-free

MAN Extends High Speed Power Range

MAN announced it will present a newly developed 12-cylinder V-engine for use in working vessels at the SMM 2014 trade fair in Hamburg, Germany. The German engine

Tanker Trends

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0838 sec (12 req/sec)