| "The proposal of acquiring 14 ships at Rs 2,600 crore has been cleared by pre - Public Investment Board (PIB) and is awaiting final clearance from PIB and Cabinet Committee on Economic Affairs (CCEA)," a senior government official said. |
| The proposed fleet acquisition includes 6 LR-1 Product Tankers of 60,000 dead weight tonne (DWT) each, 2 Cellular Container Vessels of 4,300 twenty foot equivalent units (TEU) each and 6 Handymax Bulk Carriers of 55,000 DWT each. |
| The company is in the process of floating tenders for inviting global shipyards for construction of these new ships. SCI has already floated tenders for 2 Capesize Bulk Carriers which is now awaiting CCEA approval. |
| Earlier, SCI had signed a contract with Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) for acquiring two very large crude carriers (VLCCs) with a capacity of 3,00,000 DWT at a total cost of Rs 1,136.08 crore. |
| According to shipping industry analysts, the company has a fleet of 84 ships and induction of container vessels and product tankers would boost business prospects. "As there is no container vessels for Shipping Corporation, this will give an edge as containerised trade is booming. However, delay in vessel acquisition due to government procedures and unavailability of shipyards, will derail the programme," they pointed out. |
| The Union government has decided to divest 15 per cent stake in SCI. However, the company has chalked out an expansion programme to acquire 64 ships under the National Maritime Development Programme. |
| Out of the total vessels, 32 vessels are proposed to be acquired during the remaining part of the Tenth Plan period, up to March 2007. The rest of the vessels will be acquired during the 11th Plan period. The vessels, according to the expansion plan, would be delivered to the company by March 2015. |
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