On October 27, Turkish longs producer Izmir Demir Celik Sanayi A.S. (IDC) announced that it has decided to purchase a dry bulk vessel of 53,483 dwt in order to reduce the freight costs of its exports. The purchase, which will be completed in November or December this year, will cost $28.2 million, to be paid from the company's own resources.
In the first half of this year, IDC purchased two dry bulk vessels of 48,300 dwt and 52,300 dwt, with investments of $20.5 million and $22.5 million respectively, in order to gain price and traffic flexibility in the transport of finished products and raw materials.
With 1.3 million mt melt shop capacity and 900,000 mt rolling mill capacity, IDC produced 511,962 mt of saleable products in the first half of 2009, exporting 67 percent of its total output.