Mumbai: Varun Shipping has announced its acquisition of a 57,206 cbm liquid petroleum gas (lpg) carrier - Maharishi Vamadeva (MV) - for $60m from Oslo based company Bergesen Worldwide Gas ASA (BW Gas). The 1991 built vessel, previously known as the Helice, is the 12th lpg ship purchased by Varun and increases its share in total Indian lpg tonnage to 79%. The MV, purchased with a combination of company resources and a long term loan from the State Bank of India, will be the largest lpg carrier in the Indian fleet to date. [21/12/06]
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