West Asia Maritime to Get Cargo Vessel

According to reports, Chennai-based shipping company West Asia Maritime Limited has signed an MOU with Japanese shipbuilding major Mitsui for constructing a huge cargo vessel on contract for 12 years, with an option of purchasing it at a pre-determined price during the contract period. The $33.2 million dollar ship would be delivered in the first quarter of 2008. The 56,120 DWT bulk carrier would be used by his company for moving bulk cargo. Source: newKerala.com