India’s Ambuja Cements, part of Adani Group, has announced the placement of an order for seven conventional 19,000dwt bulk carriers from the Nantong Xiangyu Shipbuilding yard in China.
The US$100m deal is yet to be formally reported to the stock exchange, however is understood that Ambuja Cement considered India’s Cochin Shipyard and Swan Defence, as well as shipyards in Indonesia, the Philippines and Vietnam, before opting for the Chinese yard for cost and delivery date reasons.
The bunkers will be used for cabotage cement and clinker shipments for Sanghi Industries’ 6.1Mt integrated plant in Kutch, Gujarat. Ambuja Cements already operates a fleet of 11 pure cement carriers.
In August reports emerged that the company was in talks to acquire two cement carriers and eight clinker carriers in a deal worth around INR25bn (US$285.7m) from Chinese shipbuilders, although it appears these plans may have changed. The move is part of Ambuja’s strategy to develop a “uniquely integrated” door-to-door cement delivery service.
