This acquisition will include a Suezmax tanker and other offshore vessels; Co buying vessels to take advantage of low pricesState-owned Shipping Corporation of India (SCI) will invest around Rs 900 crore to acquire vessels during the ongoing fiscal. This acquistion will include a Suezmax tanker and other offshore vessels. Last weekend, SCI floated a bid to procure a secondhand Suezmax tanker of about 140,000 to 160,000 Dead Weight Tonnage (DWT). Revenues in the first quarter stood at Rs 840.47 crore, down from Rs 1,056.46 crore during corresponding quarter last fiscal. Net profit too fell to Rs 55.91 crore from Rs 163.54 crore.

Source: dna August 24, 2016 02:37 UTC