SCI gets Board of Director's approval to sell two crude oil tankers

Posted by Daily Shipping Times on 09-11-2017        Tweet

MUMBAI: The Shipping Corporation of India Ltd (SCI) is looking to sell two of its crude oil tankers as it received an approval for the transaction from its Board of Directors during the quarter ended September 30.

Namely, the company plans to sell the 92,700 dwt Abul Kalam Azad and the 45,134 dwt Bankim Chandra Chatterjee.

The tankers were built in 1999 and 1994, respectively. According to data provided by VesselsValue, Abul Kalam Azad has a current market value of USD 7 million, while the Bankim Chandra Chatterjee’s market value stands at USD 3.2 million.

SCI’s total income for the period increased to INR 8.25 billion, from INR 8 billion reported in the second quarter in 2016. Similarly, revenue for the three months ended September 2017 reached INR 8.08 billion, up from INR 7.6 billion seen a year earlier.