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SCI acquires Kamsarmax Bulk carrier & PSV

Posted to SCI acquires Kamsarmax Bulk carrier & PSV (by on December 19, 2012

Having taken delivery of a platform supply vessel last month Shipping Corporation of India took delivery of a bulk carrier yesterday

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Kamsarmax Bulk carrier, m.v. “Vishva Jyoti” yesterday. 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. In the 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 existing opportunities.   

m.v. “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. 

Three weeks back the company had taken delivery of a Platform Supply Vessel (PSV) “m.v. SCI Yamuna”, being the second vessel of the two new buildings order that was placed on the government state-owned Cochin Shipyard Ltd. The 3094.82 dwt vessel has been built with clean and environment friendly Rolls-Royce UT-Design (UT 755 CD). This vessel has diesel electrical propulsion which consumes less fuel than conventional direct drive system and therefore produces less emission. Equipped with Dynamic Positioning (DP-II) system, reverse osmosis plant, firefighting (FIFI-1) equipment and ERRV (Emergency Response & Rescue Vessel) and partial UKOOA Class ‘C’ compliance, the vessel is said to comply with the latest and most stringent international regulations. This vessel will be able to offer the essential support and services for growth of the Indian offshore industry. 

India is one of the growth drivers for the world economy recording impressive GDP growth compared to the developed economies. 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 the bulk carrier fleet would help SCI contribute to this growth. 

With the addition of these two vessels, SCI’s fleet strength stands at 82 vessels of 5.94 million dwt. Acquisition of this vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. The company has 17 vessels on order at present. In the offshore sector, SCI presently has a fleet of 16 vessels of which 9 vessels were acquired during the eighties. The company plans to further establish itself as a formidable player in the Indian offshore services sector. 

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