MV Indus Victory Joins MSPL's Fleet as the Fourth Ship

BANGALORE, May 28, 2013 /PRNewswire/ --

MSPL Diamond Private Ltd. (a wholly-owned subsidiary of MSPL Limited), received its fourth state-of-the art ship, MV Indus Victory and has been placed into active service immediately. This is a part of four Post-Panamax bulk carrier vessels series having capacity of 92,500 MT. The first, second vessels were delivered in April and July 2011 respectively, the third in November 2012 and the fourth and final vessel was delivered recently on 18^th May 2013.

     (Photo: http://photos.prnewswire.com/prnh/20130528/617530)

MSPL Limited had placed the order with M/s. Taizhou Sanfu Ship Engineering Ltd., China for construction of 4 Post-Panamax type dry bulk vessels. MV Indus Prosperity, MV Indus Fortune and MV Indus Triumph are already in operation.

In a colorful handing over ceremony held at Jiangsu Province in People Republic of China, Mr. Rahul Kumar N Baldota, Executive Director, MSPL Limited received the ship.

"This occasion marks the successful completion of our 'New Builds Project' with the delivery of fourth vessel. During the past four years, shipping industry is facing many challenges and has been turbulent. MSPL is strongly committed to its objective of servicing the clients, with special emphasis on economizing the costs and remain competitive in the shipping markets," said Mr. Rahul Kumar N Baldota, Executive Director, MSPL Limited.

Speaking on the occasion, Mr. Suresh Kumar, Vice President-Shipping & Projects, MSPL Limited said, "MSPL Limited, now with four ships in active service, has strategies in place to optimize the employment of the ships by a mix of period, short term and spot charter in order to have sustained revenues to tide over the volatility in existing shipping markets. MSPL is focused on high performance and will constantly strive for excelling in client servicing and build long-term sustainable relations."

About MSPL Limited:

MSPL Limited, a flagship Company of Baldota Group of Companies, is one of India's leading iron ore mining companies and holds the distinction of being one of the country's largest producers of wind power. It is also active in industrial gases, shipping, steel, chemicals, diamond and gold mining. For additional information; visit our website: www.mspllimited.com

Primary Media Contact: C S Madhu Manjunatha, [email protected], 91-9900066261