STX Dalian Delivers Panamax Bulker to SCI, More on the Way

Image: STX

The first of four Panamax bulk carriers ordered by the Shipping Corporation of India Ltd. (SCI) were delivered last Friday by STX (Dalian) Shipbuilding Co. Ltd., China.

These vessels were ordered as part replacement of SCI’s Daewoo series Handymax bulk carriers which were built in 1986/87. These vessels would be of higher capacity in the Panamax size range of above 80,000 DWT each, compared to the conventional Panamax vessels of 75,000 dwt.

MV Vishva Anand has a gross tonnage of 44,007 tonnes and deadweight of 80,204 tonnes. The vessel has been classed with LR and IRS and has been built to comply with the latest and most stringent international regulations.

India is one of the growth drivers for the world economy recording impressive GDP growth compared to the developed economies. Industrial and infrastructural development plays a major role to sustain this growth. As a National carrier, SCI has been aiming to increase its presence in India’s ever increasing dry bulk trade and strengthening its bulk carrier fleet would help SCI contribute to this growth.

With the addition of this vessel, SCI’s fleet strength stands at 76 vessels of 5.61 million DWT. SCI notes that this acquisition “is in line with SCI’s strategy of maintaining a modern and young fleet of vessels” however these orders were placed in August 2008 while the Baltic Dry Index was freefalling, but had not yet fully crashed.

SCI has 24 vessels on order at present out of which 10 Nos. are scheduled for delivery by the end of 2012.