Chowgule Steamships’ step down subsidiaries -- Sea King LLC and Sea Link LLC have sold two Handysize Bulk Carriers namely Maratha Paramount and Maratha Prudence and simultaneously taken the same vessels back on Bareboat charter. The Bareboat Charter is for a period of five years with 'Put' and 'Call' options. Consequent to the sale, the existing debt of DVB Bank has been fully repaid.
Chowgule Steamships is principally engaged in the carriage of goods by sea. The company's Coastal fleet vessels participate in coastal movement of cargoes like cement clinker, bauxite, steel coils, food grains, industrial salt, etc.
