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Essar Shipping launches first MiniCape vessel

Wednesday, 22 February 2012 | 12:54
Essar Shipping has launched the first MiniCape vessel MV Kamlesh. On its maiden voyage to Hazira, the vessel is carrying 100,000 tonnes of coal from Australia for Essar Steel, the company said.
Essar has created this new segment of 1,05,000 DWT (dead weight tonnage) and MV Kamlesh is the first vessel in a series of six that Essar will acquire in the next 5 months. This is line with the company`s strategy to strengthen its bulk carrier fleet with modern vessels as the world trade is continue to grow with the increased economic activities. These vessels would comfortably carry flexible quantities of coal/ iron ore parcels to meet the growing cargo requirements of Power, Steel and other core sector industries in India.
On the occasion of berthing of the vessel,  AR Ramakrishnan MD, Essar Shipping said, ``We are proud to berth India`s first MiniCape. Such vessels are also ideally suited to Indian Ports as they are uniquely designed with shallow draft and have the capacity to carry more cargo, thus benefiting our clients.``
Shares of the company gained Rs 1, or 2.98%, to trade at Rs 34.60. The total volume of shares traded was 46,479 at the BSE (12.00 p.m., Tuesday).
Source: IRIS

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