Tata Power, India's largest integrated private power utility through its wholly owned subsidiary Trust Energy Resources Pte Ltd (Trust Energy) in Singapore named its first Cape Vessel, - 'TRUST AGILITY' a modern 181,000 DWT in Jinhae, Korea at the world famous STX Shipyard.

The ship will be delivered in May 2011, and is said to have the latest environmentally friendly technologies.

Trust Energy was set up in 2007 to help integrate the coal supply chain to support the growth plans of Tata Power. It has already built a portfolio of a fleet of five Cape Vessels, in its first phase.

It has purchased two new vessels - Trust Agility and Trust Integrity. The latter is due for delivery in June this year, also built at STX shipyard Korea. Further, it has long-term charters for another three cape vessels.

Trust Energy will acquire and expand its fleet of ships in future based on the thermal coal requirements of Tata Power.

Mr. R. Gopalakrishnan, Chairman, Trust Energy Resources Pte Ltd Singapore said: "This marks a new strength, and competency for the group - of owning and managing large ships to provide long term value to our businesses that are dependent on overseas raw material sources, where ocean freight is a significant cost driver," adding that "our first cape vessel reflects the new speed with which Tata Power is integrating its fuel supply chain strategy"

Mr. Anil Sardana, Managing Director Tata Power said that supporting the growth of thermal energy generation business at Tata Power, vertical integration into coal sourcing and overseas fuel logistics was critical. "With this objective in mind, Trust Energy was set to securitise coal supply and shipping of coal," he said.

Trust Energy's core business is fuel logistics and fuel trading mainly for Tata Power Group. It aims to provide integrated coal supply chains from Indonesia, Australia and Africa to India.

Trust Energy Resources, Managing Director Mr K V Rao said, "While we are focused on serving the needs of Tata Power, and supporting its growth, we are an integrated fuel supply chain company," adding that the company aimed at providing fuel supply chain solutions to potentially other power producers.