SERVICES

ArcelorMittal bolsters its fleet

Genoa - Steel giant ArcelorMittal has spent 150 million dollars overall in enlarging its fleet, with the acquisition of a fourth vessel.

Genoa - Steel giant ArcelorMittal has spent 150 million dollars overall in enlarging its fleet, with the acquisition of a fourth vessel. The Indian steelmaker seems to have purchased the Olga V, a 81,000 dwt bulk carrier from the Greek company Capital Management Services, in a deal worth $30.5 million. Various industry sources reported the acquisition. Less than a month has passed since the firm’s acquisition, also unofficial, of the vessel Rich Wave, acquired from Japan’s Fujo Kaiun, with a similar capacity.

A month ago Arcelor Mittal had paid $93 million to JP Morgan for two ships still under construction at the Shanghai shipyards. The two ships - 180,000 dwt each - will be delivered next year.

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