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.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code