SCI to Raise $563m for Vessel Acquisition

4 August 2010 (Last Updated August 4th, 2010 18:30)

Shipping Corporation of India (SCI) is planning to raise INR26bn ($563m) in debt this year to buy 29 vessels, according to an official. The proposal includes four crude tankers, seven product tankers, ten bulk carriers and eight offshore vessels, according to financialexpress.com.

Shipping Corporation of India (SCI) is planning to raise INR26bn ($563m) in debt this year to buy 29 vessels, according to an official.

The proposal includes four crude tankers, seven product tankers, ten bulk carriers and eight offshore vessels, according to financialexpress.com.

SCI said the vessels will add 1.72 million dwt to its fleet.

The state-run company expects to add 14 ships in 2010, which will expand the fleet to 74 vessels.