Subic Bay: India-based Adani Shipping has taken delivery of the first of two capesize vessels last Friday, built by South Korea's Hanjin Heavy Industries and Construction Corporation. The subsidiary of Adani Enterprises has a second vessel scheduled to be delivered within the next two weeks. The inclusion of the two new vessels - Rahi and Vanshi - signifies an important move for Adani as a group to become more self-reliant in importing its own coal with a larger fleet. The two new vessels both have cargo carrying capacity of 175,000 dwt each, for the transportation of cargoes such as coal, iron ore and grain. "I have no doubt that this acquisition and our plans to acquire 20 such vessels by 2020 will significantly bolster our logistics chain and help us remain a competitive coal supplier," Gautam Adani, chairman of Adani Group, said at a christening ceremony held at Subic Bay Freeport Zone, Philippines. [10/01/11]
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