Essar Shipping & Logistics (ESLL) has placed an order with ABG Shipyard, for six Supramax bulk carriers. The vessels, to be built at an estimated cost of $35 million each, totaling $210 million, will be delivered between December 2009 and March 2011.
The acquisition has been made keeping in view the increased demand for larger size vessels in the handymax segment of the dry bulk trade. These vessels are expected to be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. Essar plans to deploy these vessels for global trade.
“The decision to build these six bulk carriers stems from Essar’s strategy to be equipped for future business needs. These vessels will go a long way in consolidating our position,” said Sanjay Mehta, CEO, ESLL.
The new double-hull and double-bottom vessels would be environment-friendly and incorporate futuristic design while complying with the latest and most stringent International Maritime Organisation regulations. The vessels will have a length of 190 metre, a beam width of 32.26 metre and deadweight of 54,000 tonnes and fitted with 36-tonne cranes with the grab.
ESLL is a part of Essar Global Limited. ESLL has five operating companies in its fold. These include Essar Oilfields Services, which focuses on offshore and onshore drilling activities, and Vadinar Oil Terminal (VOTL), which has invested in crude oil and petroleum product terminals. VOTL has set up a crude oil and petroleum product terminal capable of handling 32 million tonnes of crude oil, and tankages for crude oil and product storage and handling facility at Vadinar, Gujarat.
The three other companies under ESLL are Essar Logistics, which is in the business of logistics management, trans-shipment and cargo handling services, Essar Shipping, which owns and operates 27 ships including VLCCs, product tankers and bulk carriers and Essar Bulk Terminal, which specialises in building and operating bulk terminals and also undertakes dredging operations.
The acquisition has been made keeping in view the increased demand for larger size vessels in the handymax segment of the dry bulk trade. These vessels are expected to be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. Essar plans to deploy these vessels for global trade.
“The decision to build these six bulk carriers stems from Essar’s strategy to be equipped for future business needs. These vessels will go a long way in consolidating our position,” said Sanjay Mehta, CEO, ESLL.
The new double-hull and double-bottom vessels would be environment-friendly and incorporate futuristic design while complying with the latest and most stringent International Maritime Organisation regulations. The vessels will have a length of 190 metre, a beam width of 32.26 metre and deadweight of 54,000 tonnes and fitted with 36-tonne cranes with the grab.
ESLL is a part of Essar Global Limited. ESLL has five operating companies in its fold. These include Essar Oilfields Services, which focuses on offshore and onshore drilling activities, and Vadinar Oil Terminal (VOTL), which has invested in crude oil and petroleum product terminals. VOTL has set up a crude oil and petroleum product terminal capable of handling 32 million tonnes of crude oil, and tankages for crude oil and product storage and handling facility at Vadinar, Gujarat.
The three other companies under ESLL are Essar Logistics, which is in the business of logistics management, trans-shipment and cargo handling services, Essar Shipping, which owns and operates 27 ships including VLCCs, product tankers and bulk carriers and Essar Bulk Terminal, which specialises in building and operating bulk terminals and also undertakes dredging operations.