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SCI-Cochin sign shipyard MOU

SCI-Cochin sign shipyard MOU

Mumbai: Leading Indian shipowner Shipping Corporation of India (SCI) today signed a Memorandum of Understanding with Cochin Shipyard for co-operation in the offshore sector. The agreement was signed by SCI chairman and md S Hajara and CSL chairman and md Commodore Jitendran during the opening session of the Indian Shipping Summit 2009 organised by Seatrade and Tradewinds.

'SCI and CSL have had a long history of co-operation since the inception of both companies and this adds another layer to our relationship,' Hajara said. This agreement comes on the heels of a recent order for four AHTS vessels from the yard.

'We are not able to disclose details of how many vessels the offshore MoU will cover, but I can confirm that we will begin with two vessels in the near future,' Commodore Jitendran told Seatrade Asia Online on the sidelines of the conference.

'We have a budget of Rs 32 crores for fleet expansion,' said Umesh Grover, SCI director for technical and offshore services. 'We will be able to allocate funds to meet our offshore fleet expansion needs as market demand develops.'  [21/10/09]