SCI to acquire two resale Supraxmax bulk carriers

The Shipping Corporation of India Ltd (SCI) has signed contracts for acquisition of two resale Supraxmax bulk carriers with Grand Yard Investments Ltd, China. These vessels are presently under construction at the Guoyu Shipyard in China. The vessels are at an advanced stage of construction and will be delivered to SCI within five months of contract effectiveness. SCI presently has 17 bulk carriers in its fleet, out of which some Handymax bulk carriers are due to be phased out shortly. The vessels contracted will now enable SCI to partly replace some of these Handymax bulk carriers. SCI also has another six Handymax bulk carriers on order with STX Shipyard, China, which will join the SCI fleet during the year 2011-12.