Mumbai, Mar 21 (UNI) TCI Seaways, the shipping arm of Transport Corporation of India, India's largest integrated supply chain and logistics solutions provider, today announced that it has added a fifth vessel, TCI Surya to its fleet.

The Rs 38 crore European Container Vessel would be utilized as a feeder on the Indian coast and SAARC regions. The development comes in the light of TCI's plans to consolidate its presence in the shipping sector and emerge as an all-encompassing, multi-modal logistics solutions provider in the country.

Commenting on the acquisition, Mr D P Agarwal, Vice Chairman&Managing Director, TCI, said '' We have bought a European vessel that has a high standard of workmanship and quality. The high speed and economic bunker consumption would make the vessel more cost-effective as it will have a faster turn-around of each voyage, thereby doing more voyages in the same period in comparison to slower vessels.'' Commenting on his plans for TCI Seaways, he added, ''The addition of TCI Surya is in line with our plans to augment our shipping business, which has witnessed an exponential growth. We have already added one ship and are looking to add three more in the next three years.'' UNI AR GB AW1923