Shipping Corporation of India (SCI) is planning to place orders for 24 ships this financial year. The delivery for the 31 vessels the company had ordered two years ago will starting this year. The capex for the current year is planned at Rs 3,700 crore which includes fresh orders that the company will be placing and some capex for the existing orders, for which the company have to make payments. The company will be ordering 24 new vessels this year, including cape-size, bulk carriers, tankers and container vessels.
To fund the capex, the company will be raising $500-600 million in the current financial year through external commercial borrowings (ECBs), as interest rates in the international market is lower than the Indian financial market. SCI thrust will be on expanding its off-shore fleet. Of the 31 vessels that are on order, there are 10 off-shore vessels with 9 to be delivered this year.
crackcrackCompany Name | CMP |
---|---|
Shipping Corpn. | 258.00 |
GE Shipping | 1221.00 |
Dredging Corp | 879.00 |
Seamec | 1380.00 |
Shreyas Shipping | 320.00 |
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