Following requests from prospective bidders, Shipping Corporation of India (SCI) has decided to extend the last date for bid submission for acquisition of four Panamax size bulk carriers.

Friday was the last date for the shipyards to submit their technical qualification bids for the tender, through which SCI aims to acquire 75,000 dead weight tonnage (DWT) bulk carriers.

“The bidders requested for about two-three more weeks for due diligence. Thus taking their concern into account, SCI would extend the date for submitting bids by a few days,” said sources in the know requesting anonymity.

The vessels to be procured have to be designed as single hull Panamax size bulk carriers that can be used for unrestricted ocean-going service worldwide.

The vessel should be constructed of steel, all welded, with efficient hull form for stability and sea-keeping.

Block acquisition

This tender (for four vessels) is a part of the block acquisition of 12 vessels for which SCI had received a Cabinet approval recently.

Another tender for acquiring two 5,000 twenty feet equivalent unit (TEU) container vessels, for which the Cabinet has already given its nod, is likely to be floated soon.

From the12 vessels, SCI has already placed orders for six with the Korea-based Hyundai Heavy Industries for acquiring four Aframax crude oil tankers and two LR-II (long range-II) size product tankers — the total value of these six vessels was $426.64 million (Rs 1,762 crore).

The public sector shipping major is also processing another tender for procuring four anchor handling tug supply vessels with 80-tonne pull capacity.

For this tender about six firms that include Bharati Shipyard, Hindustan Shipyard and Colombo Shipyard are in race.

Order book

Currently, SCI’s order book stands at 18 vessels that include two very large crude carriers, two 4,400 TEU container vessels, six LR-I and two MR product tankers.

During the Eleventh Plan period of 2007-08 to 2011-12, SCI plans to invest about $3 billion to add four million dead weight tonnage.