It is reported that leading Indian shipowner Shipping Corporation of India signed a MoU with Cochin Shipyard for cooperation in the offshore sector. The agreement was signed by S Hajara chairman & MD of SCI and Mr Commodore Jitendran chairman & MD of CSL during the opening session of the Indian Shipping Summit 2009 organized by Seatrade and Tradewinds.

Mr Hajara said “SCI and CSL have had a long history of co operation since the inception of both companies and this adds another layer to our relationship. This agreement comes on the heels of a recent order for four AHTS vessels from the yard.”

Mr Commodore Jitendran said “We are not able to disclose details of how many vessels the offshore MoU will cover but I can confirm that we will begin with two vessels in the near future.”

Mr Umesh Grover SCI director for technical and offshore services said “We have a budget of INR 32 crores for fleet expansion. We will be able to allocate funds to meet our offshore fleet expansion needs as market demand develops.”

(Sourced from www.seatradeasia-online.com)