Logistics

MSPL Maritime takes delivery of 2nd bulk carrier

T.E. Raja Simhan Chennai | Updated on July 06, 2011 Published on July 06, 2011




MSPL Maritime and Diamond Pte Ltd, a shipping company of Karnataka-based iron ore exporter MSPL, has taken delivery of Panamax ship ‘Indus Fortune' from a Chinese shipyard.

bulk carriers

This is second in the series of four post-Panamax bulk carriers of 93,000 dead weight tonne (dwt) capacity ordered by the company.

The ship was built at Taizhou Sanfu Ship Engineering Co.

It was received on July 4 by Mr Rahul Baldota, Executive Director, MSPL. MSPL has chartered the ship to the Kolkata-based Gujarat NRE for transporting coking coal from Australia to India.

A senior company official did not disclose the charter rate.

The first vessel, Indus Prosperity, was delivered on April 22 while the remaining two are scheduled to be delivered in the next 18 months.

The company placed an order in November 2006 with Taizhou Sanfu for construction of four post-Panamax-type (92,500 dwt) dry bulk vessels.

The company is investing Rs 1,200 crore to procure the four vessels. According to Mr Baldota, the fundamentals of the Asian economies continue to be strong and the outlook for dry bulk trade, positive.

On delivery of the new vessels, the company will be able to cater to this growing trade.

chartering

The charter of the fleet ranges from three to five months (short-term ), one to three years (medium range) and six to eight years (long-term ).

During recession and when the ships are idle, the group can run the vessels for its own use, that is, for transporting iron ore and coal.

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Published on July 06, 2011
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