Adani orders Caper duo from Hanjin
Adani Enterprises, the flagship company of the Ahmedabad-based Adani Group in India, has placed orders for two new Capesize bulk carriers with South Korea’s Hanjin Heavy Industries for about Rs650 crore ($138 million) for delivery end 2010.
The ships are being acquired through Adani Shipping Pte Ltd, the Singapore-based wholly-owned subsidiary of Adani Enterprises, and will fly the Singapore flag.
The newbuildings will be used by Adani to transport coal from its mines in Indonesia to the proposed 2,000MW coal-based power plant coming up at Mundra. On the return leg, the ships will carry iron ore to China from the company’s mines at Belekeri in north Karnataka. This will ensure business to the ships both ways, helping the firm gain control over cargo and save on ship-hire rates.
Since the company does not have expertise in operating ships, the task of managing and crewing the vessels will be outsourced to a ship management firm. The two ships will make 12 trips in a year, carrying 2.2 million tonnes of cargo.
