The Hindu Business Line : SCI tonnage to rise with 3 new tankers

THE delivery of three new tankers - one Suezmax in May this year by Daewoo and two VLCCs (very large crude carriers) in February and October next year by Hyundai - is to boost Shipping Corporation of India's crude tonnage by about 7.5 lakh dwt (dead weight tonnage). However, the net addition to the tonnage will be much less, an estimated 2.8 lakh tonnes or so.

This is because at least five other tankers in the existing fleet - four World Bank tankers (87,000 dwt each) and one Aframax tanker (115,000 dwt) — will be due for scrapping by the end of this year or early next year. The Aframax tanker, `Rajendra Pradsad', is currently being used for storage purpose on the coast.

Right now the SCI's crude tonnage comprises 31 vessels of various types totalling 2.86 million dwt. This also includes five recent acquisitions - four Aframax and one Suezmax tankers — and the two World Bank tankers. As many as six tankers of the capacity of 87,000 dwt each were acquired decades ago by way of loans from the World Bank.

SCI is also planning to acquire immediately three second-hand vessels - two container vessels of the capacity of 3,500 TEUs each and one Aframax tanker. Once acquired, the container vessels are likely to be pressed into the European services. The existing three container ships (capacity 1800 TEUs each) are being operated on the services to the Far East. The shipping line might choose to upgrade the capacity of the second-hand vessels from 3,500 TEUs to 5,000 TEUs each in due course, according to informed sources.

The proposed acquisition of two new LR I tankers (capacity 67,000 dwt each) is intended to replace two of the existing tankers of much small capacity, `C V Raman' and `Homi Bhaba' (capacity 41,000 dwt each ). There is a further proposal to acquire two new VLCCs.

The shipping line's bulk carrier tonnage is likely to remain more or less unchanged in 2004. This is because the proposed new acquisitions (six Handymax of 50,000 dwt each and two Capesize of 170,000 dwt each) will take a few years to materialise. However, `Rani Padmini', a 75,000-dwt bulk carrier and oldest in the existing fleet, about 23-year old, might be scrapped by the end of this year or early next year, it is learnt. SCI's bulk carrier fleet comprises 23 vessels totalling 0.94 million dwt.