Shipping Corporation of India acquires new vessel

The Shipping Corporation of India Ltd (SCI) today said it has accepted delivery of a Large Range-I (LR-I) Product Tanker, mt Swarna Brahmaputra.

The vessel is the third of SCI's six LR-I size product tankers which are being constructed at STX Shipyard, one of the shipyards of repute in Korea. Orders for these vessels were placed in October 2006.

While the first two vessel were delivered to SCI during July and August, 2010 respectively, delivery of the balance three LR-I product tankers are scheduled within October 2010, SCI said in a statement here.

The vessel has a gross tonnage of 42,845 tonnes and deadweight of 73,606 tonnes at scantling draft.

The vessel has been classed with LRS and IRS and has been built to comply with the latest and most stringent international regulations.

The ship also complies with the requirements of "Green Passport" notation, a safe & environmentally sound approach from building stage to recycling.

India as a nation is heavily dependent on import of crude oil and transportation of petroleum products along the coast. Having product tankers under Indian flag provides vital energy security to the country, the release said.

Energy transportation has continued to remain the core business segment for SCI and induction of this vessel in the SCI's fleet is expected to strengthen its position in the energy transportation area.

With addition of this vessel, SCI's fleet strength has increased to 75 vessels.

Acquisition of these vessels is in line with SCI's strategy of maintaining a modern and young fleet of vessels.

The company has 27 vessels on order at present and 7 of these are slated for delivery during 2010.