Shipping Corp Floats Tenders to Buy 11 Ships

Maritime Activity Reports, Inc.

February 8, 2006

Shipping Corporation of India has floated global tenders for acquiring 11 ships, including two cellular container ships with carrying capacity of 4,300 twenty feet equivalent each, six Handymax bulk carriers of 50,000-58,000 DWT each, and two product tankers. These tenders were part of SCI’s $500 million 14-ship acquisition plan, which is to be spread over the next couple of years. Order contracts for two very large crude carriers of 319,000 DWT each have already been signed 16 weeks ago with South Korea-based Daewoo Shipbuilding & Marine Engineering Co. Ltd. The two VLCCs for which contracts have been signed are scheduled to be delivered by October 2008 and September 2009. The deadline for submission of bid offers for the newly tendered ships is February15 for cellular container and Handymax bulk carriers and February 28 for product carriers.

(Source: The Asian Age)

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