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            october 16, 2019

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SCI to acquire 29 ships


The Shipping Corporation of India (SCI) plans to raise Rs 2,600 crore this fiscal to buy 29 vessels, Mr B.K. Mandal, Director, Finance, SCI, said to Exim News Service.
This would raise SCI’s total tonnage to 1.72 million DWT. The order will include four crude carriers, seven product tankers, 10 bulk carriers and eight offshore vessels.
"We have tied up funds for some of these vessels and will be raising a debt to the tune of Rs 2,600 crore by the end of this financial year for adding 29 vessels," Mr Mandal disclosed.
SCI hopes to add 14 ships this fiscal, which will comprise five (large range) and one product tankers, two LR 11 product tankers, four Aframax tankers and three anchor handling tug and supply vessels.

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