Tata NYK Shipping has ordered three new bulkers in Japanese yards.
The joint venture between Japanese shipowner NYK Line and Indian steel group Tata has inked the supramaxes at Tsuneishi and Oshima shipyards for delivery in 2012 and 2013.
The company wants its own vessels to ship at least half of Tata’s expected cargoes of 60m tonnes of raw materials and finished products over the next few years.
Tata NYK already has 16 ships, two of which are owned.
Boss Rajiv Mukerji told Indian media: “We have ordered three supramax ships from Japanese shipyards.
“We will look at further acquisitions in terms of purchase or time charter in other segments, such as panamax and capesize ships at the right time and opportunity. We have some projects, which we are trying to develop and, if successful, we will look at debt/equity options maybe next fiscal year.”
He did not reveal the value of the ships, which are under construction at Tsuneishi Group (ZHOUSHAN) Shipbuilding Inc. and Oshima Shipbuilding Co. Ltd.
A supramax costs about $33-34 million to build at Japanese yards, according to Norwegian ship-broking and investment bank RS Platou ASA.