ABG bags order for bulkers

Shipbuilding seems to be staging a comeback in India, especially large ships, with smaller shipyards taking the lead. India?s largest private sector yard, ABG Shipyard, announced an order for four bulk carriers of 54,000 dwt worth $139 million.

The Mumbai-based shipbuilder ABG Shipyard has bagged a $139 million order from Cyprus-based Essar Shipping & Logistics Ltd, for construction of four supramax bulk carriers.

Under the agreement, ABG will construct four 54,000 DWT bulk carriers for delivery by March 2011. Following this contract, the order-book position of ABG Shipyard stands at around $915 million.