SCI gets Cabinet nod to buy 4 bulk carriers

New Delhi: Shipping Corporation of India (SCI) has received the Cabinet nod to acquire four Panamax bulk carriers for $238.2 million.

For this, SCI would raise up to 80 per cent of the contract price of each vessel from the domestic or international market while the balance amount would be paid from its internal resources.

According to an official release, the Cabinet Committee on Economic Affairs today gave its approval for acquiring four Panamax Bulk Carriers of about 80,000 DWT each at a price of $59.55 million a vessel.