Essar Shipping & Logistics Limited (ESLL) has placed an order with ABG Shipyard Limited, India for acquisition of six modern new-building geared Supramax Bulk Carriers. The vessels will be built at an estimated cost of USD 35 million each (total cost of USD 210 million for six vessels), will be delivered between December 2009 and March 2011. ESLL is part of Essar Global Limited.

The acquisition has been made keeping in view, the increased demand for larger size vessels in the handymax segment of the dry bulk trade. These vessels will be in high demand over the coming years considering the fact that the entire handymax segment is inching towards larger tonnage. With its considerable experience and excellent track record of operating ships globally, Essar will deploy these vessels in global trade

"The decision to build these Six Bulk Carriers stems from Essar's forward-looking strategy to be always equipped for future business needs. ESLL has built a reputation as a dependable global logistics service provider. These vessels will go a long way in consolidating that position," said Mr. Sanjay Mehta, CEO - ESLL.

The double-hull and double-bottom vessels will incorporate futuristic design and the latest technology. Essar is the first company to contract such vessels. They will also be environment-friendly and comply with the latest and the most stringent IMO regulations. The vessels will have a length of 190m, a beam width of 32.26m and deadweight of 54,000 tonnes and they will be fitted with 36-tonne cranes with the grab.

Essar Shipping & Logistics Limited (ESLL) is a part of Essar Global Limited. ESLL has Five operating companies:

· Essar Oilfields Services Limited (EOSL): Focuses on offshore and onshore drilling activities.

· Vadinar Oil Terminal Limited (VOTL): Invested in crude oil and petroleum product terminals. VOTL has set up a crude oil and petroleum product terminal capable of handling 32 million tones of crude oil, and tankages for crude oil and product storage and handling facility at Vadinar, Gujarat, India.

· Essar Logistics Limited (ELL): In the business of logistics management, trans-shipment and cargo handling services.

· Essar Shipping Limited (ESL): ESL owns and operates 27 ships including VLCCs, product tankers and bulk carriers. Essar Shipping is the first Indian shipping to be certified for ISO 14001. It is also the first Indian company to operate in international waters.

· Essar Bulk Terminal Limited: It specializes is building and operating bulk terminals. It also undertakes dredging operation.

About Essar Global
Essar Global is an international conglomerate with leadership positions in six business areas: Steel, Oil & Gas, Power, Communications, Shipping and Logistics, and Construction. Employing approximately 20,000 people, it has an asset base in excess of USD 10 billion and representative offices worldwide.