The Shipping Corporation of India Limited (SCI) accepted delivery of a Kamsarmax Bulk carrier, m.v. Vishva Uday, on 27th November 2013.

This is the third vessel of the four Kamsarmax bulk carriers ordered by SCI with Jiangsu Eastern Heavy Industries Company Limited, China. Orders for these vessels were placed in September 2010. The first 2 ships were delivered in December 2012 and May 2013 respectively.

SCI had been predominantly operating smaller sized Handymax and Handysize bulk carriers in the past. With delivery of these larger Kamsarmax bulk carriers having higher cargo carrying capacity, SCI would be increasing its presence in India's import and export of Dry bulk cargoes.

The vessels are suited for worldwide trading and can be alternatively deployed in cross trades depending on the opportunities available. These bulk carriers were ordered as part of replacement of SCI's existing Daewoo series Handymax bulk carriers which were built in 1986/87 and have been phased out from services.

India is one of the growth drivers for the world economy recording remarkable GDP growth compared to the developed economies. Industrial and infrastructural development plays a major role to sustain this growth.

As a National carrier, SCI has been aiming to boost its share in India's ever increasing dry bulk trade and strengthening the bulk carrier fleet would assist SCI contribute to this growth.

With the addition of this vessel, SCI's fleet strength stands at 75 ships of 5.95 million dwt. Acquisition of this ship is in line with SCI's strategy of maintaining a modern and young fleet of ships. The Company has 13 ships on order at present. (Source: TR-Bureau)