Chowgule Steamships - Letter of Intent for a new Vessel

Chowgule Steamships Ltd has announced that Chowgule Steamships (Overseas) Ltd, a Wholly Owned Subsidiary of the Company, has signed a Letter of Intent for building a 37000 DWT, Super Box Bulk Carrier to be built by Saiki Heavy Industries Co. Ltd, Japan and supplied by Onomichi Dockyard Co. Ltd, Japan. The delivery of the vessel will be taken in or around March 2011.

The Company or its Wholly Owned Subsidiary has an option to place orders for 4 more such vessels in the same series, details of which will be negotiated with the shipyard.

Source : Equity Bulls

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