Essar Shipping Adds Panamax Bulker

Illustration; Image Courtesy: Essar Shipping

Indian shipping company Essar Shipping Limited (ESL) has added to its fleet Mahavir, a Panamax bulk carrier. 

The 74,005 dwt vessel, previously known as Jun Jie, was bought from China’s Fujian Ocean Shipping for USD 4.8 million in January this year, according to information provided by VesselsValue.

As disclosed, Mahavir will be deployed for transporting cargo from Essar Steel’s pellet plant in Paradip to the steel plant in Hazira.

Commenting on the acquisition, Ranjit Singh, Executive Director & CEO of Essar Shipping, said: “This acquisition is in line with our strategy to find cargo before acquisition to ensure full utilization of the vessel.”

Built at Japanese Imabari shipyard in 2000, Mahavir will replace Chandi Prasad which was decommissioned last month.

With the latest addition, ESL has a fleet of 14 crude and bulk carriers with a total tonnage of 1.6 million dwt and an average age of 12 years.

In 2016/17 fiscal year, ESL reported 22% growth in cargo handling, whereas its capacity utilization grew to 94% from 80%.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >