You must have heard people buying assets like house, car or bike and naming them after their daughters.
You must have heard people buying assets like house, car or bike and naming them after their daughters. But Gautam Adani, chairman of Adani group, bought two ships and named them after his brother Rajesh Adani’s daughters - Rahi and Vanshi. Adani Shipping Pte Ltd, a subsidiary of Adani Enterprises Ltd, had bought the two ships, one of which was delivered on Friday.
On Friday, Adani Shipping took the delivery of M/V Vanshi, the first of its two capsize vessels built by South Korea's Hanjin Heavy Industries and Construction Corporation.
The christening ceremony was held at Subic Bay Freeport Zone, Philippines in the presence of President of Philippines, Benigno Simeon 'Nonynoy' Aquino III. Also in attendance were Rajesh Adani, MD of Adani Group and Hanjin's chairman, Nam Ho Cho.
The second vessel, named M/V Rahi, is scheduled to be delivered within a fortnight to Adani Shipping. The inclusion of these two new vessels is a strategic move for the infrastructure major Adani group to attain self-reliance in importing its own coal and to continue its quest to emerge as a leading coal miner cum supplier globally.
The Adani group is the largest importer of coal in India and had traded close to 30 million metric tones of coal in 2009-10. Gautam Adani, chairman of Adani Group, said "The acquisition of these vessels fulfils the missing link of coal transportation by sea from the group's mines in Indonesia and Australia.
It is also a critical step towards strengthening our integrated logistics coal chain, especially since we are the largest importers of coal in India and last year moved close to 40 million MT cargos by chartering ships in 2009-10."
"I have no doubt that this acquisition and our plans to acquire 20 such vessels by 2020 will significantly bolster our logistics chain and help us remain a competitive coal supplier," the chairman added.
M/V Rahi and M/V Vanshi both have cargo carrying capacity of 1,75,000 dead weight tonne (dwt) each, fit to carry cargoes such as coal, iron ore and grain.
Both vessels have an overall length of 289m, a breadth of 45m, and a draft of 18.1m with a cruising speed of 15.6 knots.
Incidentally, these vessels are the first capsize ships built at the new yard in Subic Bay - Philippines with the latest IMO requirements of CSR and PSPC coating standards.
This new technology provides extra protection to the ballast spaces thereby giving a longer life to the hull structure.Hanjin is the oldest ship yard in Korea with an experience of more than half a century in ship building. The yard was selected as it provides new generation ships, equipped with state of the art equipment, at a very competitive price, which meets requirement of delivery schedule and technical specifications of the company.
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