SCI plans to place orders for another 42 vessels in the next 3-4 years, he added. The company presently has 20 bulk carriers in its fleet, of which some would be due for scrapping soon.
The vessels ordered now would be delivered to SCI during 2012 and would thus enable the company to partly replace some of the vintage handymix bulk carrier tonnage and enhance SCI's exposure in the larger segment of Panamax trade.
SCI has further plans to augment its bulk carrier fleet by ordering capesize bulk carriers in the near future.
This move would further strengthen its position as a dominant player in the Indian shipping sector and also help the company to emerge as a strong player in the bulk segment, Mr Hajara said.