SCI Expands Fleet

Wednesday, July 13, 2011
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SCI signed contracts for acquisition of two Supramax bulk carriers on resale basis which were originally contracted by M/s Grand Yard Investment Pvt. Ltd., China and were under construction at M/s Guoyu Shipyard, China. SCI had signed contracts for these two resale vessels during April 2011. The second vessel is scheduled to be delivered to SCI by July end.
The vessel has a gross tonnage of 33,032 tons and deadweight of 56,638 tons. The vessel has been classed with BV and IRS and has been built to comply with the latest and most stringent international regulations.   This will be the first vessel in SCI fleet to be equipped with camless electronic main engine.
India has been on a fast track growth trajectory and industrial and infrastructural development plays a major role to sustain this growth. Strengthening its bulk carrier fleet would definitely help SCI contribute to this growth as well as increase its presence in the bulk carrier segment. The prevailing downturn in the shipbuilding market is throwing up opportunities for acquiring tonnage at attractive prices and SCI is geared to take advantage of such opportunities.
With addition of this vessel, SCI’s fleet strength has increased to 79 vessels. Acquisition of the vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. The Company has 30 vessels on order at present and 12 of these are scheduled for delivery by the end of 2011.

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