India: First of Four Kamsarmax Bulkers Delivered to SCI

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Kamsarmax Bulk carrier, m.v. “Vishva Jyoti”, on December 18, 2012. The vessel is the first of a series of four Kamsarmax bulk carriers ordered by SCI with Jiangsu Eastern Heavy Industries Co. Ltd., China.

Orders for these vessels were placed in September 2010.

The remaining three vessels would be delivered to SCI during 2013 in a phased manner. Informatively, during second half of 2012, SCI had accepted delivery of 4 Panamax bulk carriers from STX Shipyard in China. SCI had been predominantly operating smaller sized Handymax and Handysize bulk carriers in the past.

With delivery of these larger Panamax/Kamsarmax bulk carriers having higher cargo carrying capacity, SCI would be increasing its exposure in India’s import and export of Dry bulk cargoes. The vessels are suited for worldwide trading and can be alternatively deployed in cross trades depending on the opportunities available.

MV “Vishva Jyoti” has a gross tonnage of 44,864 tonnes and deadweight of 81,894 tonnes. The vessel is dually classed with BV and IRS and has been built to comply with the latest and most stringent international regulations.

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Press Release, December 25, 2012