Adani takes delivery of new 175,000-DWT cargo vessel

Adani Shipping, a subsidiary of Indian conglomerate Adani Enterprises Limited, said it had has taken delivery of a brand new vessel with a cargo-carrying capacity of 175,000 DWT from South Korean firm Hanjin Heavy Industries and Construction Corporation.

The company expects to get the delivery of second vessel of similar deadweight tonnage (DWT) -- known as a ''capsize vessel'' in a fortnight -- Adani Enterprises said in a statement.

"The acquisition of these vessels fulfils the missing link of coal transportation by sea from the group''s mines in Indonesia and Australia," Adani Group Chairman Gautam Adani said.

He added, "It is also a critical step toward strengthening our integrated logistics coal chain, since we are the largest importer of coal in India."

Adani Group is the largest importer of coal in India and traded close to 30 million tonnes of coal in 2009-10, while Hanjin is the oldest shipyard in Korea, with over half a century of experience in the ship-building business.

As part of its strategy to become a global coal miner-cum-supplier, the Adani Group it intends to acquire 20 such vessels by 2020 to strengthen its logistics chain. (*)