Business Daily from THE HINDU group of publications
Thursday, Aug 17, 2006
Business Daily from THE HINDU group of publications Thursday, Aug 17, 2006 |
|
|
|
|
|
|
|
Logistics
-
Shipping Industry & Economy - Coal SCI stops movement of thermal coal from Paradip to Ennore Santanu Sanyal
Kolkata , Aug. 16 Shipping Corporation of India (SCI) has stopped participating in coastal movement of thermal coal from Paradip to Ennore. This follows the scrapping of "Rani Padmini," the 73,000-dwt bulk carrier so far engaged in transportation of coal on the route. "With the scrapping of "Rani Padmini," we are left with no Panamax vessels which are ideally suited for transportation of coal from Paradip to Ennore," said a spokesman for SCI. Precisely for the same reason, SCI, it was indicated, would not respond to the next tender to be floated in this regard by Poompuhar Shipping on behalf of Tamil Nadu Electricity Board, the consumer of the coal. SCI, it is learnt, has also stopped transporting thermal coal from Haldia to Tuticorin for some time. This is again because of the non-availability of suitable vessels. The limited navigability of the Hooghly river does not allow a big size Panamax vessel to call at Haldia with full load. The Handysize vessel, of the capacity up to 30,000 dwt, is best suited for the purpose. SCI has got six Handysize vessels but these vessels, along with 15 other Handymax vessels (capacity ranging from 35,000 dwt to 47,000 dwt), are put mostly on international trade because of the rates received and commitments made in that trade. The prospects of SCI resuming, too, do not appear to be bright. The shipping line's proposals for acquisition of various types of vessels are yet to be cleared by the Government. These include, among others, six Super Handymax (capacity upwards of 55,000 dwt) and four Panamax (upwards of 70,000 dwt). While the Public Investment Board has cleared the proposal for six Super Handymax vessels, the Cabinet Committee on Economic Affairs is still sitting on it. The acquisition proposal for Panamax vessels is incorporated in what is called Block Approval of the Government. That approval too is yet to come. Hoping that the Government approvals will be available shortly, SCI is believed to be scouting around for resale or in-use bulk carriers but finding it difficult to locate one. A jump in demand has pushed up their prices. A Super Handymax , earlier available at $30-32 million, will now cost around $38 million or so, and given a choice, SCI, it is learnt, might prefer a Super Handymax to a Panamax vessel because of the versatility of the former type.
More Stories on : Shipping | Coal | Shipping Corporation of India Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|