ABG Shipyard secures major order from Essar Shipping & Logistics, Cyprus

ABG Shipyard Ltd has announced that the Company has secured a major order for Construction of 4 No. of 54,000 DWT Supramax Bulk Carriers, at a price of US $ 139.0 million (Rs 618 crores) from Essar Shipping & Logistics Ltd, Cyprus, as a part of its ship acquisition programme.

Essar Shipping & Logistics Ltd., a Cyprus based subsidiary of Essar Global Ltd, is a leading sea logistics solutions provider involved in sea transportation, logistics management, transshipment and activities relating to ports and terminals.

General information about the vessel is as under:

1. Order for - Construction of 4 No. 54,000 DWT Supramax Bulk Carriers.
2. Value of the Vessel - US $ 139.0 million (Rs 618 crores)
3. Delivery period - By March, 2011.

Following this order the order book position of the Company, as on date, stands at about Rs 40,737.7 Mio (US$ 915.5 Mio).

Source : Equity Bulls

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