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Varun Shipping Company Limited

India

Address: Laxmi Building, 6, Shoorji Vallabhdas Marg, Ballard Estate, Mumbai 400 001, India

Tel: +91-22 66350100-109

Web: www.varunship.com

Company description

Varun is a private sector shipping company in India. With its diversified fleet of 21 vessels, in the LPG and crude oil sectors, it provides a comprehensive shipping solution across the entire hydrocarbon product chain to its valued customers. It also provides its services in the offshore support sector. The company has a diversified and well established base of customers, including Indian Public Sector Undertakings and international charterers. Varun Shipping Company Limited is a leading Indian private sector shipping company owning and operating vessels in the hydrocarbon sector. Varun is a global player in energy transportation and offshore exploration and production (E and P) support services. Varun’s freight and charter hire income for the year ended 31st March, 2010 was Rs. 6,662.23 million (US$ 139.76 million) and its net profit was Rs. 125.53 million (US$ 2.63 million). Varun has a track record of being profitable and distributing dividends uninterruptedly to its shareholders for the past 26 years. Varun owns/operates a fleet of 21 vessels, comprising 11 LPG carriers, 3 crude oil tankers and 7 anchor handling towing and supply (AHTS) vessels. With its well diversified fleet, Varun is able to offer comprehensive transportation and support solutions to its valued customers, across the entire hydrocarbon value chain. Varun is the largest owner of LPG tonnage in India with around 68% of the total tonnage (in dwt terms) presently operating under the Indian flag. Varun also owns the largest LPG carrier under the Indian flag. Varun transported approximately 52 per cent of all Public Sector Undertaking (PSU) cargoes brought into India during the period from April, 2010 to March,2011. Varun is the second largest owner of tonnage in the global mid- size fully refrigerated (20,000-50,000cu.m) LPG carrier fleet category and owns 12.70 per cent of the total tonnage in that category. Globally, in the fully refrigerated LPG carriers category, Varun is also the fourth largest owner in terms of number of vessels and sixth largest in terms of cargo carrying capacity. Varun owns five large, modern and powerful AHTS vessels with the highest bollard pull under Indian flag. It has established a leadership position in the large AHTS sector in the Asian region. Varun is the first Indian company to operate large AHTS vessel in the North Sea. Varun has a highly professional and well qualified team of management in the areas of technical and commercial operations, finance, secretarial, legal, information technology and human resources. Varun’s corporate headquarters and registered office are in Mumbai. Varun has also established a branch office in Singapore in 2005. In April 2006, Varun was honoured with the prestigious award of “The Fastest Expanding Indian Shipping Company” and Mr Arun Mehta, its Chairman & Managing Director was awarded the “Varuna Award”, by the National Maritime Day Celebrations Committee formed by The Directorate General of Shipping, Government of India. (Click here to view the award) In October, 2008, Varun was awarded the prestigious “The Marine and Offshore Services Award” at the Seatrade Middle East and Indian Subcontinent Awards, 2008 held in Dubai, United Arab Emirates. (Click here to view the award)Further, in December, 2008 Varun was selected for the “Best Managed Company, India- Small Cap” award in the Corporate Governance Poll,2008 conducted by ASIAMONEY. In November 2006, Mr. Yudhishthir D. Khatau, Vice Chairman & Managing Director was awarded the 'Personality of the Year’ award at the Lloyds List Middle East/Indian Subcontinent Awards 2006 ceremony, held at Dubai. Further, In October 2007 he was presented with 'Policy Maker of the Year' award at the awards presentation ceremony of the Seatrade India Shipping Summit-2007, held in Mumbai. Further, in September, 2008 he received “Entrepreneur of the Year” award at the India Shipping Summit-2008 awards ceremony, held in Mumbai. In April, 2008 one of Varun’s vessels, LPG/C Maharshi Krishnatreya received “Certificate of Excellence” and “Ship of the Year (Indian Flag in Foreign Trade)” award by National Maritime Day Celebrations (Central) Committee, Mumbai. This award is given to those ships which come out successfully through various inspections, surveys and audits for PSC, FSI, ISM, ISPS and MARPOL, thereby depicting their clean image and efficiency of the Master and the crew . This vessel had also undertaken search and rescue operations in July, 2007 when a Korean vessel M.V. Orchid Sun, had sunk in the sea of Oman and was successful in saving the lives of two crew members.

Products and services

Crude Oil Tankers Anchor Handling Towing and Supply Vessel
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