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APJ Shipping places order for three bulk carriers

Special Correspondent

KOLKATA: Apeejay Shipping, (APJ Shipping) which is part of the over Rs. 4,500-crore Apeejay Surrendra group, has placed orders for three dry bulk carriers of 57,000 dwt (dead weight tonnage) each from Cosco shipyard group of China, for $130 million.

The three vessels, will be built at Cosco’s Guangzhou shipyard and will be delivered between 2009 and 2011. Apeejay Shipping expects to receive the first vessel in April 2009.

Captain S. S. Mahapatra, Chief Executive Officer, Apeejay Shipping, said that with the dry bulk markets expected to remain firm over the next three years.

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