SCI to double capacity to 10 million tons in five years

SHIPPING Corporation of India (SCI), the largest carrier in India, recently announced that it will spend US$4 billion to expand its fleet in next five years, estimating to possess a doubled capacity of 10 million deadweight tons from the current 5.1 million tons, reports Newark's Journal of Commerce.

The company has placed orders $1.3 billion for 27 new vessels, which are expected to be delivered by 2012. Additionally, it plans to order another 30 vessels worth $3 billion by 2012 with deliveries scheduled for 2014.
(Source:www.schednet.com)