India firm to buy 14 more mini-bulk carriers for $126m
Oct 13: Sajjan Jindal-led JSW Infrastructure Ltd will buy as much as 14 more mini-bulk carriers that can move seamlessly along sea and river carrying cargo between its Jaigarh and Dharamtar ports for the captive use of the group's steel mill and the upcoming cement plant at Dolvi located along the Amba river in Maharashtra.
The steel-maker previously ordered 18 such ships, each with a capacity to carry 8,000 tonnes at Chinese, Indian and Bangladeshi yards. Out of this, two vessels built at Bangladesh's Western Marine Shipyard Ltd were delivered to JSW.
Cochin Shipyard Ltd is constructing four mini-bulk carriers for Utkarsh Advisory Services Private Limited, part of JSW group. The balance 12 ships are under construction at a Chinese yard.
"We would be ordering another 14 ships of 6,000-tonne capacity each, most likely from China and a few of them would be built at Cochin Shipyard," Pranab Jha, vice president, shipping, JSW Steel Ltd told BusinessLine.
At about $9 million per vessel, the total acquisition cost for the 14 ships would be about $126 million. -Business Line