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Our Bureau

Mumbai , Nov 15

Shipping Corporation of India (SCI) has placed orders for two cellular container vessels with Hyundai Samho Heavy Industries of South Korea.

The two vessels, with a capacity of 4,400 TEUs each, will be delivered in November 2008.

"Delivery of the vessels is very competitive in the prevailing market scenario, when shipowners are finding it difficult to secure early building slots for their vessels. SCI has managed to get early delivery through the process of competitive bidding," a SCI release said.

The vessels will augment SCI's liner tonnage.

The shipping company provides containerised cellular liner services to the US, Europe, West Asia and the Far East through a mix of three owned and five in-chartered vessels. The two new vessels will replace SCI's in-chartered tonnage in the Europe sector.

SCI, which is on a vessel acquisition spree, recently placed orders for six long range product tankers. Its order book consists of 10 vessels, including two very large crude carriers.

The company plans to acquire further tonnage, including aframax and medium range crude and product cankers and handymax bulk carriers.

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