Shipping Corporation of India Takes Delivery of Its New Bulk Carrier

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Supramax Bulk carrier, “m.v. Vishva Vikas” yesterday, March 26th 2012. The vessel is the fifth vessel of SCI’s six Supramax bulk carriers ordered at STX (Dalian) Shipbuilding Co. Ltd., China, which is part of the world renowned STX Offshore and Shipbuilding group of Korea.

Orders for these vessels were placed in December 2007. The last vessel is scheduled to be delivered to SCI in April 2012.

These vessels were ordered as part replacement of SCI’s existing Daewoo series Handymax bulk carriers which were built in 1986/87. m.v. Vishva Vikas has a gross tonnage of 33,185 tonnes and deadweight of 57,127.8 tonnes. The vessel has been classed with DNV and IRS and has been built to comply with the latest international regulations.

The world economy is presently reeling under the recessionary pressure; however, India has been continuing its growth trajectory. Industrial and infrastructural development plays a major role to sustain this growth. As a national carrier, SCI has been aiming to increase its presence in India’s ever increasing dry bulk trade and strengthening its bulk carrier fleet would help SCI contribute to this growth

With addition of this vessel, SCI’s fleet strength has increased to 76 vessels of 5.56 million dwt. Acquisition of this vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. Presently the company has 27 vessels on order of which 16 of them are scheduled for delivery during 2012.

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Source: SCI, March 27, 2012