Leading Indian ship owner, Shipping Corporation of India (SCI) has announced plans to boost its container fleet through the acquisition of three new ships in 2010. The company, which currently only has five containerships in its 76 vessel fleet, has set aside an estimated $225m for the purchases.
"SCI plans to purchase three new container vessels, along with its existing JV partner Mediterranean Shipping Company (MSC). These will be executed after securing the necessary board approval," a senior SCI official told the Press Trust of India. "We have seen a significant pick up in volumes in the recent past, on account of the recovery in the domestic and global markets. The volumes are expected to pick up further in the months ahead," the official said.
"SCI plans to purchase three new container vessels, along with its existing JV partner Mediterranean Shipping Company (MSC). These will be executed after securing the necessary board approval," a senior SCI official told the Press Trust of India. "We have seen a significant pick up in volumes in the recent past, on account of the recovery in the domestic and global markets. The volumes are expected to pick up further in the months ahead," the official said.