Sical Logistics acquires Chinese dredger from Shanghai Duo Jun Dredging
17 Aug 2007
Chennai: Integrated logistics company Sical Logistics Limited has entered the $14-billion global dredging market by acquiring a cutter-suction dredger from China's Shanghai Duo Jun Dredging Co Ltd through a subsidiary Norsea Offshore Pte Ltd.
Renamed Sical Portofino, the 2006 vintage dredger cost Sical $24.92 million and comes with sufficient pack of spares. The 107-metre long dredger with an average draft of 3.37 metre can dredge up to depth of 25 metre at 3000 cubic metre per hour.
Sical Logistics intends to deploy the dredger in China and negotiations for long-term contracts have started. According to Karthik Menon, once a contract is bagged the company's topline is expected to increase by $9.8 million annually. For the present the dredger has been assigned to spot / daily assignments.
Menon says Sical Logistics is seriously looking at the dredging sector and has plans to acquire another similar dredger.
Meanwhile Sical Logistics is expecting the delivery of 45 rail rakes sometime in September. Each rake can carry two 20-feet containers that cost the company around Rs125 million. The company has promoted a special purpose vehicle Container Rail Company Limited to operate container trains between Chennai and Delhi.