Apeejay Shipping acquires vessel, expands fleet strength
PORTS & SHIPPING

Apeejay Shipping acquires vessel, expands fleet strength

Apeejay Shipping (ASL) has taken a significant stride in maritime expansion by procuring a Japanese-built vessel boasting a deadweight capacity of 76,812 MT. With this strategic addition, ASL, based in Kolkata, solidifies its fleet, which now stands at 10 vessels. The collective deadweight tonnage (dwt) of 671,332 MT underscores the company's growing influence in the maritime domain.

Although precise details regarding the cost and financial structure of this acquisition remain undisclosed, ASL's move reflects a broader commitment to expansion and growth, as affirmed by Karan Paul, Chairman of the Apeejay Surendra Group.

As the third-largest ship owner in India, ASL is steadfast in its quest to achieve a future capacity milestone of one million tonnes. This development coincides with ASL's 75th anniversary, accentuating the company's enduring presence and commitment in the maritime industry.

In 2022, the Union government introduced various measures, including subsidies, to augment the tonnage of Indian shipping firms, providing a favourable backdrop for ASL's strategic expansion.

A July 2022 ICRA credit report highlighted ASL's history, citing previous acquisitions of three second-hand ships in FY2018. The report underscores ASL's focal point in the dry-bulk segment, with coal transportation constituting a substantial portion of its operations. Despite its growth trajectory, the report also underscored a relatively higher client concentration risk faced by the company.

Apeejay Shipping (ASL) has taken a significant stride in maritime expansion by procuring a Japanese-built vessel boasting a deadweight capacity of 76,812 MT. With this strategic addition, ASL, based in Kolkata, solidifies its fleet, which now stands at 10 vessels. The collective deadweight tonnage (dwt) of 671,332 MT underscores the company's growing influence in the maritime domain.Although precise details regarding the cost and financial structure of this acquisition remain undisclosed, ASL's move reflects a broader commitment to expansion and growth, as affirmed by Karan Paul, Chairman of the Apeejay Surendra Group.As the third-largest ship owner in India, ASL is steadfast in its quest to achieve a future capacity milestone of one million tonnes. This development coincides with ASL's 75th anniversary, accentuating the company's enduring presence and commitment in the maritime industry.In 2022, the Union government introduced various measures, including subsidies, to augment the tonnage of Indian shipping firms, providing a favourable backdrop for ASL's strategic expansion.A July 2022 ICRA credit report highlighted ASL's history, citing previous acquisitions of three second-hand ships in FY2018. The report underscores ASL's focal point in the dry-bulk segment, with coal transportation constituting a substantial portion of its operations. Despite its growth trajectory, the report also underscored a relatively higher client concentration risk faced by the company.

Next Story
Technology

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Next Story
Infrastructure Transport

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Next Story
Real Estate

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?