Shipping Corp of India selects Greek suezmax

Shipping Corporation of India (SCI) is in the market for suezmaxes and has sealed its first deal of the year. State-run SCI is paying $31m for Arcadia’s ten-year-old Aegean Navigator.

“The sale follows a lengthy tender process; whilst pricing looks firm, we understand the deal is on subjects for 2-3 weeks,” Clarksons Research noted in its most recent weekly report.

SCI is India’s largest tanker operator with vessels in all categories. It has recently announced plans to restart calling in Iran. It has been in the market for suezmaxes for the past six months, eyeing a number of ships before selecting Arcadia’s.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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