Essar Shipping Limited (ESL) part of the Essar Group has, taken the delivery of MV Ishwari. This newest addition to Essar Shipping’s growing fleet, MV Ishwari, is a MiniCape which is 253 metre long, 43 metre wide and has a cargo capacity of 105000 dwt, the ESL press release said.
On taking delivery of the third MiniCape, A R Ramakrishnan- Managing Director, Essar Shipping Limited said, “With the induction of the MiniCapes, the company is on track to achieve the planned growth in revenues and scale of operations.”
He further added, “In the recent budget, the government has announced initiatives that will help the power, steel sectors to grow and in turn provide opportunities for the shipping industry. These vessels will be deployed to further capitalise on this growth platform.”
With its uniquely designed hull to ensure larger carrying capacity with minimal draft requirements, ESL is confident that these MiniCape vessels will make trade to the Indian coast more economical and cost effective for clients in the Power, Steel and other core sectors
Essar Shipping continues to serve its customers efficiently with a fleet comprising VLCCs (Very Large Crude Carrier) tankers, Capesize vessels, Supramaxes, mini bulk carriers and other lighterage & transshipment assets.
About Essar Shipping
Essar Shipping Limited operates a diversified fleet of 26 vessels, including VLCCs, Capesizes, MiniCapes, Supramaxes, mini bulk carriers and tugs. A sizeable part of the capacity is deployed on long-term contracts and COAs, insulating the company from the volatility of spot markets.
The Oilfields Services business provides contract drilling services to oil & gas companies across the globe. This business owns one semi-submersible rig and 12 land rigs. The company has ordered two new jack-up rigs.
The Logistics business provides end-to-end logistics services – from ships to ports, lighterage services to plants, intra-plant logistics and dispatching finished products to the final customer. This business operates assets to provide lighterage support services, and onshore & offshore logistics services. It manages a fleet of over 5,000 trucks for inland transportation of steel and petroleum products.
About Essar Group
The Essar Group is a multinational conglomerate and a leading player in the sectors of Steel, Energy, Infrastructure and Services. With operations in more than 25 countries across five continents, the Group employs 75,000 people, and has revenues of USD 17 billion.