Essar Shipping places $210 mn orders for bulk carriers
The Ruias-owned Essar Shipping & Logistics (ESLL) has placed a mega order for constructing six bulk carriers with ABG Shipyard. The Mumbai-based shipbuilder will construct six geared Supramax bulk carriers. The contract is valued at $210 million.
The vessels — with a length of 190 metre, beam width of 32.26 metre and 54,000 deadweight tonnage (dwt) — will be built at an estimated cost of $35 million each. These ships will be delivered between December 2009 and March 2011, and will be fitted with 36-tonne cranes with the grab.
“It’s a strategic investment in line with Essar’s future plans. The dry bulk market is hot now, and it is going to remain attractive for a few more years,” ESLL chief executive Sanjay Mehta told ET.
Essar Shipping, a subsidiary of ESLL, already owns and operates 27 ships including very large crude carriers , product tankers and bulk carriers. Mr Mehta said the acquisition has been made keeping in view the increased demand for larger-size vessels in the handymax segment of the dry bulk trade.
“These vessels will be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. We will deploy these vessels in global trade,” said Mr Mehta.
These vessels will be environment-friendly and comply with the stringent International Maritime Organisation regulations.
The vessels — with a length of 190 metre, beam width of 32.26 metre and 54,000 deadweight tonnage (dwt) — will be built at an estimated cost of $35 million each. These ships will be delivered between December 2009 and March 2011, and will be fitted with 36-tonne cranes with the grab.
“It’s a strategic investment in line with Essar’s future plans. The dry bulk market is hot now, and it is going to remain attractive for a few more years,” ESLL chief executive Sanjay Mehta told ET.
Essar Shipping, a subsidiary of ESLL, already owns and operates 27 ships including very large crude carriers , product tankers and bulk carriers. Mr Mehta said the acquisition has been made keeping in view the increased demand for larger-size vessels in the handymax segment of the dry bulk trade.
“These vessels will be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. We will deploy these vessels in global trade,” said Mr Mehta.
These vessels will be environment-friendly and comply with the stringent International Maritime Organisation regulations.
