After the South Korean shipbuilder Hyundai Heavy Industry (HHI) refused to deliver an oil tanker to Irano Hind Shipping Company (IHSC), its minority partner in joint venture, Shipping Corporation of India (SCI), decided to buy the vessel, The Hindu Business Line reports.
The main reason of delivery refusal are sanctions against Iran for the Persian state’s alleged clandestine nuclear weapon program.
The SCI has a 49 per cent stake in IHSC, with the rest being owned by Iran Shipping Lines.
According to The Hindu Business Line, S. Hajara, Chairman and Managing Director of SCI confirmed the information that SCI will take delivery in a couple of days.
He also said that the oil tanker has a capacity of 153,000 DWT.
Currently SCI has 21 vessels in its order book and the tanker from Irano Hind joint venture is an additional unit.
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Shipbuilding Tribune Staff, October 10, 2012