The Shipping Corporation of India will invest about $4 billion to acquire 72 vessels over the next five years as part of an ambitious fleet acquisition plan."We have already placed orders for 12 vessels, which will cost us close to $1 billion, and another order for an additional 60 vessels worth $3 billion will be placed in phases," S Hajara, CMD, Shipping Corporation of India said here today.The 12 ships were scheduled to be delivered between 2008 and 2010, while the additional 60 vessels would be added to the fleet in the next five years, Hajara said.Currently, SCI has a fleet of 79 vessels and cash surplus of around Rs 2,500 crore on the balance sheet to support its acquisition plans.The current capacity of SCI is 4.8 DWT and it expects to increase it to at least 8 DWT once these acquisition are complete.The 12 vessels ordered include 2 VLCCs (very large crude carrier), 2 container vessels and 6 crude carriers among others.Meanwhile, Hajara said the company would continue to focus on the east in consonance with the look east policy.Commenting on the proposed mega dredging alliance, Hajara said a consultant would be appointed in the next 3 to 4 months through global tendering to form a PSU joint venture.Kolkata Port Trust, Mumbai Port, JNPT and Cochin Shipyard would be part of the SCI led alliance.
