Apeejay Shipping takes delivery of 7th bulk carrier
Apeejay Shipping, belonging to the Apeejay Group, has taken delivery of the third and final vessel, APJ Shirin, of the series of three bulk carriers each of 57,000 dwt ordered with Chinese shipyard, Cosco Shipyards Group Co, in early 2009 for a total value of approximately $130 million, according to the company's Web site. With this acquisition, the company's tonnage jumps to more than 4,00,000 dwt, comprising seven vessels, all bulk carriers. At a function recently at the Guangdong shipyard, Mr Karan Paul, Chairman of Apeejay Shipping, in the presence of other members of his family and senior officials of company, took delivery of the vessel, which has since been deployed on its maiden voyage. The first vessel in the series, APJ Kais, was delivered in April 2009 and the second vessel, APJ Jai, in May 2011. In October 2005, Apeejay Shipping had bought two second-hand vessels, APJ Jad (2002 built ultra handymax, 52,454 dwt) and APJ Suryavir (1990 built panamax, 71,037 dwt). In March 2009, APJ Mahalaxmi (1985 built Panamax, 67,354 dwt) was added to the fleet in place of APJ Sridevi ( 1977 built panamax,64,100 dwt) which was sold.
Right now, APJ Mahalaxmi and APJ Akhil (1989 built, handymax 45,757 dwt) are both deployed in coastal trade, carrying coal on behalf of Poompuhar Shipping, the Tamil Nadu Government shipping company, it is learnt.
Inquiries reveal that the company is mulling acquisition of two more bulk carriers, preferably one supramax and one panamax, but both second hand, now that the market being down, since the ships are available at rock bottom prices.
However, the investment plans are yet to be firmed up, it is learnt.
