Phase out old vessels, Par panel to Shipping Corp 452 0 by j niranjan das 9 years ago In Development · Economics · news New Delhi: A Parliamentary panel has recommended that Shipping Corporation of India (SCI) buy fuel-efficient ships, replacing the old stock. “If the international market situations are viable, they may go for purchasing new fuel-efficient vessels in place of the old ones,” a parliamentary standing committee on Transport, headed by Kanwar Deep Singh said in its latest report. The largest domestic shipliner has a fleet of 69 vessels of which 17 are bulk carriers, 16 crude oil tankers and 14 product tankers, most of which are old. “The committee understands that some of the ships owned by SCI are aged and needed to be phased out,” it said. The panel said SCI could make a turnaround after sustained losses for three consecutive years and registered a net profit of Rs 384.41 crore in 2015-16. @ Agency report. Tweet Buffer
