Essar Shipping

India Cements acquires second bulk cargo carrier

India Cements Ltd has acquired a second bulk cargo carrier (motor vessel) with capacity of 38,002 DWT from Essar Shipping Ltd of Mumbai.

Recently, India Cements unveils plans to double its cement capacity to almost 18 million tones by 2011 and is in talks with concession owners of coal mine in Indonesia to work out a long-term coal supply agreement.

The company also intends to acquire equity stake in the coalmine in order to get coal at reasonable price.

Essar Shipping Board Approves Their Merger With India Shipping

The board of Essar Shipping at its meeting held today approved the company’s merger with Mauritius-based, India Shipping.

India Shipping is the holding company of Essar Oilfields Services and is registered under the laws of Mauritius.

Essar Shipping Limited, an integrated sea logistics company, provides crude and bulk cargo transportation services to various refineries, steel mills, and traders