Varun Shipping plans to bring overseas fleet of LPG carriers under Indian flag

26 Mar 2014 Evaluate

Varun Shipping, which is trying to revive its gas carrier business under a new company, is planning to bring its overseas fleet of LPG carriers under the Indian flag. The company is planning the same since applying for a fresh operating licence.

The Mumbai-based listed company, the largest Liquefied Petroleum Gas carrier in the country, lost its operating licences (in technical terms Document of Compliance or DoC) following its failure to honour its financial commitments, including payment of wages to seafarers.

Varun Shipping operates in four foreign-flag LPG carriers registered in Singapore, Indonesia, Cyprus and Marshall Islands. The company now proposes to register these vessels in India.

 

Peers
Company Name CMP
Shipping Corpn. 211.75
GE Shipping 991.05
Dredging Corp 857.95
Seamec 1134.70
Transworld Shipping 428.70
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.