In a bid to bring down debt by $25-26 million, Varun Shipping Company is all set to sell its second very large gas carrier -- Maharshi Bhardwaj -- by May. Following the sale, the company will own two large and seven mid-sized gas carriers. Moreover, the company will focus on the mid-sized gas carrier segment, where haulage rates are relatively stable.
Earlier, the company sold Vishwamitra to Mercator for approximately $30 million, which reduced the company’s loans by about $25-26 million. The second sale will also reduce loans by the same amount.
Varun Shipping Company (VSCL) was incorporated on January 29, 1971. Later on February 18, 1972 it was converted into a public company. The company started its operation in 1973 by acquiring one product tanker. The company’s corporate headquarters and registered office are located in Mumbai.
| Company Name | CMP |
|---|---|
| Shipping Corpn. | 305.85 |
| GE Shipping | 1425.30 |
| Dredging Corp | 976.65 |
| Seamec | 1556.00 |
| Shreeji Ship.Global | 377.10 |
| View more.. | |
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