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August 4, 2010

SCI to Raise $563m for Vessel Acquisition

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.

By cms admin

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.

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