Apeejay Shipping Limited fleet size increases to nine

As per reports, the Apeejay Shipping Limited is planning to acquire at least four more ships to reach a combined fleet capacity of 1 mt deadweight tonnage. This will result in about 50 per cent increase in its capacity. The vessel acquisitions would cost the shipping line about Rs 4.1 billion to Rs6.2 billion over the next 3-5 years. It will be funded through a mix of debt to equity ratio of 1:3.