Cement, power cos buy ships to cut costs

Font Size

Print

Feedback

Email

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Rating:  0

said. These firms could look at booking 60-70 percent of the tonnage and put the rest on the market when they don't need it, he added.

Besides cement firms, power companies, which depend largely on imported coal, are also looking at owning vessels, he said.

Freight rates are likely to remain firm for now despite volatility in oil prices and a probable recession in the U.S., Essar Shipping's Mehta said.