Exim News Service reported that the Anil Dhirubhai Ambani Group proposes to enter shipping operations by buying 6 Capesize dry bulk carriers by 2011, entailing an investment of INR 3,000 crore. Initially the company will concentrate on captive operations, but may later enter commercial services if there is good opportunity. The official who took part in the recently concluded India Shipping Summit 2008 said that the group’s shipping business would be under Reliance Natural Resources Limited. He said that "We will need another 6 Panamax vessels and 6 more Capesize vessels by 2013 for our Shahapur and Krishnapatnam power projects.”
The company is reportedly negotiating with some shipyards including Korean, to place orders for its first lot of Capesize vessels.
The company is reportedly negotiating with some shipyards including Korean, to place orders for its first lot of Capesize vessels.