Essar Shipping & Logistics Ltd, which controls Essar Shipping Ltd, has placed orders for six bulk carriers, and has an option for three more, it said in a statement at the weekend.
The order has been placed with China's STX (Dalian) Shipbuilding Co Ltd at an estimated cost of $65 million each. The vessels are expected to be delivered between July 2011 and January 2012, it said.
Essar Shipping & Logistics has a fleet of 28 vessels and aims to strengthen its bulk carrier fleet to meet the rising demand for iron ore and coal transportation by steel mills and power plants in India and Asia, it said.
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