P R E S S R E L E A S E

The Shipping Corporation of India Ltd. (SCI) accepted delivery of an Anchor
Handling, Towing & Supply (AHTS) vessel "m.v. SCI Kundan" today, 3rd April, 2012.
The vessel has a Bollard Pull capacity of 120 Tonnes, which makes it useful to operate in deep sea. SCI had signed contracts for acquisition of 2 nos. newbuilding 120
Tonne AHTS vessels with Cochin Shipyard Limited on 9th February 2011. The first vessel. "m.v. SCI Pawan" was delivered to SCI on 15.11.2011. Informatively, these vessels are sister vessels of the 2 AHTSVs on order with Cochin Shipyard Ltd, orders for which were placed in June 2009.
The vessel has a gross tonnage of 2,067 tonnes and deadweight of 1,994 tonnes. The vessel has been classed with IRS, equipped with Dynamic Positioning-I (DP-I) system, Reverse Osmosis Plant, Firefighting (FIFI) equipment, partial UKOOA (C) compliance and has been built to comply with the latest and most stringent international regulations. This vessel will be able to offer the essential support and services for growth of the Indian Offshore industry.
In the offshore sector, SCI presently has a fleet of 13 vessels of which 9 vessels were acquired during the eighties. These vessels have been dedicatedly serving the oil exploration and production sector in India for past more than 25 years. As a National carrier, SCI has been aiming to increase its presence in India's offshore sector. To promote Indian Shipbuilding industry, SCI has ordered four AHTSVs of 120T BP capacity (two in June 2009 and two in February 2011) and two PSVs with Cochin Shipyard on nomination basis. The service of these vessels would be crucial to the E&P operators in the Indian Offshore sector. Apart from serving the nation's interest, the vessel would also strengthen SCI's fleet base as well as start a new era in its offshore segment.
With addition of this vessel, SCI's fleet strength stands at 77 vessels of 5.56 million dwt., which includes 13 offshore supply vessels. Acquisition of the vessel is in line with SCI's strategy of maintaining a modern and young fleet of vessels. The Company has 26 vessels on order at present and 15 of these are scheduled for delivery during 2012.

---------------- END OF THE TEXT ----------------
distributed by

This press release was issued by The Shipping Corporation of India Ltd. and was distributed, unedited and unaltered, by noodls on 2012-04-04 14:19:30 PM. The issuer is solely responsible for the accuracy of the information contained therein.