SCI inks shipbuilding contracts for 2 cellular container vessels

Mumbai, Nov 15 (UNI) The state owned Shipping Corporation of India (SCI) has placed orders for two Cellular Container vessels of 4,400 TEU (twenty equal units) capacity each at Hyundai Samho Heavy Industries, Korea.

A SCI release issued here today said that shipbuilding contracts for the vessels were signed in New Delhi today that envisaged both the vessels would be delivered to SCI in November, 2008.

Delivery of the vessels is very competitive in the prevailing market scenario when shipowners are finding it difficult to secure early building slots for their vessels. SCI has managed to get early delivery for the vessels through the process of competitive bidding. The vessels would be built to high technical specifications enabling those to provide trouble free service to SCI over the long term.

SCI provides fully containerised cellular liner services to USA, Europe, West Asia Gulf and Far East Asia, through a mix of three owned and five inchartered vessels. These 4,400 TEU vessels would replace SCI's inchartered tonnage in the Europe sector providing it strategic competitive edge.

Currently, SCI is on a vessel acquisition spree and orders for these vessels have come shortly after the company had placed orders for six LR-I size Product Tankers last month. Signing of contracts for the container ships have swelled SCI's orderbook to 10 vessels.

The company also has plans to acquire further tonnage of various types including Aframax and Offshore Supply vessels in the near future.

UNI SN MJ SKB1844