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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5653)	8/18/1999 8:43:00 PM
From: Mohan Marette	of 12475

Essar Shipping to phase out old vessels, expand fleet essar.com Sabarinath M Mumbai, Aug 18: Essar Shipping has decided to phase out it's old ships including seven bulk carriers and offshore supply vessels as part of an effort to cash in on global trade opportunities. The company will soon add four new vessels to its fleet by acquiring two cape-sized ship and two very large crude carriers (VLCC) at an estimated cost of $150 million. The funds for the proposed acquisition will be raised through overseas borrowings...... financialexpress.com

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