SCI Gets Go-Ahead To Build Nine Ships In South Korea

The New Delhi Government has given the go-ahead to the Shipping Corporation of India (SCI) to build nine new ships—six 45,000-dwt product tankers and three cellular container vessels—in South Korea at a total cost of $396 million. Originally, SCI wanted to build six of each type, but had to scale down its containership order because of India's shortage of foreign exchange. Worth about $46 million each, the product tankers are to be constructed at Daewoo shipyard in South Korea. The three $44 million containerships, each with a capacity of 1,450 TEU, went to Hyundai.

The vessels, all part of SCI's eighth investment plan, are due for delivery in 1993 and 1994.

The owner wants to acquire almost 130 new ships with an estimated tonnage of 4.86 million dwt over the course of the five-year plan. The company's initial requirement, in addition to the vessels just sanctioned, is for six 28,000-dwt product/edible oil carriers and three 87,000-dwt and six 140,000-dwt crude carriers. Already ordered in Indian shipyards and in Spain and South Korea are a further 13 ships.

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