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Transport Corporation of India to procure two container vessels for USD 34Mn

Oct 23, 2023

By: BlinkX Research Team

Transport Corporation of India Ltd. has finalized an agreement today for the construction of two Cellular Container Vessels, each with an approximate Dead Weight Tonnage (DWT) of 7300 MT. The contract, valued at around USD 34 million, is jointly entered into by the company and a consortium of sellers led by Nakanishi Shipbuilding Co. Ltd., Japan.

The key terms and conditions include the vessels being designed, constructed, and commissioned in compliance with the regulations of KR (Korean Register of Shipping) and IR Class (Indian Register of Shipping) that were effective prior to the contract's signing. These vessels will bear the Indian flag and will be registered by the company under Indian laws upon delivery.

The total purchase price for both vessels amounts to approximately USD 34 million. The vessels are expected to be delivered to the company, complete with all required certificates and in accordance with the contract specifications, by or before June 30, 2026, unless otherwise mutually agreed upon. This significant procurement marks a strategic move for Transport Corporation of India Ltd. in expanding its maritime assets.