Indian player expands fleet with Japan buy

Gujarat-based ACT Group has purchased the 32,500-dwt Kwela (built 2002) for around $10.7m from Japanese owner Santoku Senpaku.

Officials at the Indian company declined to comment. In February, ACT director Gopal Sujan said the firm was looking to expand its fleet to consolidate its share in the domestic food-grains trade.

TradeWinds has learned that the Kanda-built vessel is expected to be deployed on contracts of between two and three years to provide stable income.

Sources