Essar Shipping places USD 20 mn orders
Essar Shipping places USD 20 mn orders Essar Shipping & Logistics (ESLL), part of Essar Global, placed an order for six supramax bulk carriers with ABG Shipyard at a cost of USD 210 million.
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The acquisition has been made keeping in view, the increased demand for larger size vessels in the handymax segment of the dry bulk trade. These vessels will be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. ESLL plans to deploy these vessels for global trade
“The decision to build these six bulk carriers stems from Essar`s forward-looking strategy to be always equipped for future business needs. ESLL has built a reputation as a dependable global logistics service provider. These vessels will go a long way in consolidating that position,“ said Sanjay Mehta, CEO - ESLL.
Shares of the company closed up Rs 0.05, or 0.12%, at Rs 41.05. The total volume of shares traded at the BSE was 207,066. (Tuesday)
