SCI takes a Suezmax from Hyundai Samho

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Suezmax crude oil tanker, October  10th, 2012. The vessel has been named as m.t. “Desh Shobha”.

The vessel was purchased from Hyundai Samho Heavy Industries Co. Ltd. (HSHI) Korea on a resale basis.

The vessel has a gross tonnage of 81,334 tonnes and deadweight of 1,58,034 tonnes at scantling draft. The vessel has been classed with LR and IRS and has been built to comply with latest international regulations.

The shipping markets are prevailing at low levels at present and as a result the shipbuilding industry is also going through a recessionary phase. This has presented opportunities for the acquisition of vessels, and SCI has also utilized the available opportunity for acquisition of this vessel from HSHI.

India as a nation is dependent on the import of crude oil and having tankers under Indian flag provides vital energy security to the country.

As is known, the uninterrupted transport and supply of oil, a major source of primary energy, is vital to a country’s growth. In times of international crisis, it is all the more important to maintain a secured supply line.

In view of this, the addition of crude oil tankers to national fleet will ensure uninterrupted transport of essential cargoes, such as crude oil and petroleum products in the process ensuring national and energy security.

Energy transportation has also been the core business segment for SCI and induction of this vessel in SCI’s fleet will strengthen its position in the energy transportation sector.

In view of this strategic acquisition, SCI’s crude oil tanker fleet has increased to 3.63 million dwt and SCI’s fleet strength has increased to 78 vessels of 5.69 million dwt.

The company has 21 vessels on order at present and 7 of these are slated for delivery during the remaining period of 2012. < 김보람 기자 brkim@ksg.co.kr >