SCI Orders Tankers

The Shipping Corporation of India Ltd (SCI) has placed orders for four Aframax crude oil tankers and 2 LR-II size product tankers, with Hyundai Heavy Industries, Korea. Shipbuilding contracts for the vessels were signed on August 10, 2007. This is the largest-ever shipbuilding contract in terms of value, signed by SCI with any shipyard since its inception in 1961. These vessels would be delivered between 2008 to 2011. Delivery of these vessels would augment SCI fleet profile further as well as give it a competitive edge in the market. SCI plans to acquire another 56 vessels in various size categories during the 11th Five Plan period. Source: Business Standard