Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Varun Shipping to expand fleet

Varun Shipping to expand fleet

Mumbai: Varun Shipping has announced plans to spend Rs20bn ($445m) over the next 6-8 months on the purchase of second hand vessels to build up its fleet of tankers, gas carriers and offshore vessels. The company, which currently owns 17 vessels, will finance the fleet expansion with a combination of funds raised through sales of shares as well as internal accruals including loans and the sale of ships. Varun Shipping announced an increase of 5 % in net profits for the quarter ending September 30 and expects to do better over the winter months.  [31/10/06]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish

SMN_Podcast_Leaderboard.jpg