Tata NYK orders Japanese dry bulk carriers

3 November 2011 (Last Updated November 3rd, 2011 18:30)

Tata NYK Shipping, a joint venture (JV) between NYK Line and Indian steel group Tata, has ordered three new dry bulk cargo carriers from Japanese shipyards.

Tata NYK Shipping, a joint venture (JV) between NYK Line and Indian steel group Tata, has ordered three new dry bulk cargo carriers from Japanese shipyards.

The supramax vessels will be built at Tsuneishi and Oshima shipyards and are scheduled to be delivered in 2012 and 2013.

The JV wants its own vessels to ship at least half of Tata’s expected cargoes of 6Mt of raw materials and finished products over the next few years.

The company has not disclosed the value of the order; however, according to Norwegian ship-broking and investment bank RS Platou, supramax vessels cost around $33-34m at Japanese yards.

Currently, NYK Tata operates a fleet of 16 ships and owns two vessels.