Shipping corporation to expand fleet

Mumbai: Shipping Corporation of India (SCI) is planning to order 37 vessels in two years with an investment of Rs 9,300 crore. Presently, SCI has 77 vessels with 5.8 million deadweight tonne (Dwt).

In December 2005, the company had planned to purchase 76 vessels by spending Rs 15,000 crore by end of March 2012. The plan was delayed, as ship prices shot up. SCI has acquired nine ships that comprises one resale ship.

Besides, it has given orders for 30 ships and delivery is expected in the coming years. It now plans to complete the order of 37 ships, to conclude the earlier plan on time.