Shipping Corporation of India (SCI) is planning to invest $1 billion (Rs 4,500 crore) every year to acquire new ships. The company is likely to exceed its fleet capacity by over 10 million deadweight tonnage (DWT — the total weight of the ship, including the cargo, crew and fuel)
SCI owns 76 ships (5.1 million DWT), besides manning 60 vessels (0.2 million DWT). Acquisitions would add another 1.7 million DWT to the existing fleet. The corporation’s overall fleet capacity will exceed six million DWT, while in the next five to seven years, the capacity will exceed 10 million DWT. On funding of the proposed expansion, 20 per cent of the funds would come through internal accruals and the remaining 80 per cent through debt, which will be mainly raised in international markets.
| Company Name | CMP |
|---|---|
| Shipping Corpn. | 305.85 |
| GE Shipping | 1425.30 |
| Dredging Corp | 976.65 |
| Seamec | 1556.00 |
| Shreeji Ship.Global | 377.10 |
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