Shipping Corp hires two container ships

5/25/2009 9:47:53 AM

Despite declining global trade, state-run Shipping Corporation of India (SCI) has hired two medium-sized container ships for two years, taking advantage of rock-bottom ship rentals. Mint reported.   India’s biggest shipping firm and only ocean carrier that runs container services for overseas trade, hired one ship at a day rate of $5,700 and the other at $6,150.   The first vessel has a capacity to carry up to 3,534 TEUs, and the second, up to 3,300 TEUs. A year ago, ships of this size would have been able to earn at least $30,000 a day for its owners.   SCI has the option of extending the hiring period by a year at a higher rate.   SCI runs a fleet of nine container ships, some of which it owns.   Cargo News Asia

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