Reuters has reported that the state-run Shipping Corp of India (SCI) has gone on a vessel buying spree, with orders for 29 bulkers and tankers , which will expand the fleet, currently at 79 vessels, by 37 percent.
The first 17 vessels are due to be delivered by the end of the current financial year, ending March 2012. The total consideration for all 29 ships is US$781 million.
Sunil Thapar, director of the bulk carriers and tankers division, told reporters SCI was also planning to diversify and bolster its fleet with a range of offshore vessels, including PSVs and OSVs.
