The Union Cabinet allowed the Shipping Corporation of India (SCI) to buy 12 vessels.
SCI will acquire four Aframax tankers of about 1,10,000 dead weight tonnage (DWT) each, two large Range
-II product tankers of about 95,000 DWT each, four Panamax bulk carriers of about 75,000 DWT each and two cellular container vessels of about 5,000 TEU each.
SCI would be allowed to pay 20 percent of the contract price from internal resources. The fleet acquisition will help SCI to meet the increased demand for crude oil transportation.
Source: Economic Times