India's Varun to Build LNG Carrier Fleet

Wednesday, August 16, 2006
India’s fourth largest private sector shipowner, Varun Shipping Co, plans to raise 536m in an effort to expand business, mostly in the carriage of liquefied natural gas. Varun Shipping will sell securities either in the domestic market or abroad to raise the money, it said in a statement to the Bombay Stock Exchange. The type of securities to be sold was not specified. The board of directors also approved raising the limit on overseas shareholding to 49%.

The Indian shipping ministry has asked the country's shipowners to take the initiative to develop a fleet of LNG carriers and to consider import of the gas only on free-on-board terms. Most of the top shipowners, including the state-owned Shipping Corp of India, Great Eastern Shipping and Varun Shipping, are keen to get into the field with minimal delay. Varun has considerably ramped up its presence in the field of its niche market, LPG carriage.

The company has a 19-vessel fleet, including 11 gas carriers, and made it eligible for the accolade of the second largest fully refrigerated midsize gas carrier in the world. (Source: http://www.logisticsmgmt.com)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

U.S. Naval Academy: New Superintendent

The U.S. Naval Academy (USNA) has held a change of command ceremony in Annapolis, Maryland, where Vice Adm. Walter E. "Ted" Carter Jr. relieved Vice Adm. Michael Miller,

Saab Completes Acquisition of TKMS (Kockums)

Defence and security company Saab's acquisition of the Swedish shipyard Thyssen Krupp Marine Systems (TKMS, formerly Kockums) has now been completed. The acquisition

Bechtel Plant Awarded Nuclear Propulsion Contract Modification

U.S. Department of Defense informs it has awarded a $39,437,949 cost-plus-fixed-fee modification to a previously awarded contract (N00024-12-C-2106) for naval nuclear propulsion components.

LNG

Editorial: Gas ... It's Both the Question & the Answer

When the time comes to pull an edition together, sometimes the content simply takes on a life of its own, as is the case with the July 2014 edition and the proliferation of ‘gas’ throughout.

EXXONMOBIL Files Export Application for Alaska LNG Project

In another important step forward for the Alaska LNG project, an application to export liquefied natural gas (LNG) was submitted to the U.S. Department of Energy by EXXONMobil.

Bureau Veritas Kick-starts LNG Bunkering

International classification society Bureau Veritas has published a comprehensive set of guidelines on LNG Bunkering, with the aim of speeding adoption of LNG as

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1242 sec (8 req/sec)