Shipping Corporation of India plans to acquire 110 vessels of 5.21 million gross tonnage at an estimated cost of Rs27,668 crore in next 10 years
Shipping Corporation of India Ltd (SCI) plans to acquire 110 vessels of 5.21 million gross tonnage (GT) at an estimated cost of Rs27,668 crore in next 10 years, Parliament was informed today.
Among these vessels, the Shipping Corporation is likely to place orders for 26 vessels by 2011-12, shipping minister GK Vasan said in a written reply to Lok Sabha.
He added that the acquisition of the vessels would take SCI's total tonnage to about 7.21 million GT by 2020.
Gross tonnage is a unitless index related to a ship's overall internal volume and is calculated based on the moulded volume of all enclosed spaces of the ship.
The shipping minister further said that SCI has placed orders for 36 vessels so far against the target of acquiring 62 vessels in 11th Five Year Plan, which includes acquisition of one resale vessel.
On Monday, SCI ended 1.27% down at Rs104.60 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.43% to 18,222.67.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
