Thursday, March 15, 2007

German shipping major inks JV with Shipping Corporation of India

The Times of India reports that German shipping company Peter Dohle Schiffahrts KG, one of the largest privately held shipping company in the world has entered into a JV with India's largest shipping company, the Shipping Corporation of India (SCI). The 50:50 JV mainly entails jointly operating bulk carriers and container ships. The venture is likely to be kicked-off shortly with the formation of a company either in India or overseas. Initially, both companies plan to deploy bulk carriers in the joint venture company. A little later, the fleet will be expanded to more bulk carriers or container ships, depending on market conditions.

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