Sanmar Shipping Ltd., (SSL), a part of Chemplast Sanmar, has drawn up plans to strengthen its fleet by adding eight more ships taking the total to 20, reports The Hindu.
A new subsidiary
Being a prominent player in the international tanker market, SSL inaugurated a new subsidiary in Singapore named Sanmar Shipping SG Pte. Ltd., to leverage its presence there both for operational and strategic efficiency, Chemplast Sanmar said in a social media post.
In his inaugural address, Sanmar Group Chairman Vijay Sankar expressed his vision of taking the fleet strength to 20 in the next few years.
He also felt that the Singapore office would be complimentary to the growth of the group, bringing in new clients and collaborations.
Sanmar Shipping Managing Director C.V. Subba Rao said that he saw good potential in the LPG sector and the company had a good base in the Clean Petroleum Products market.
Floated in September 1994, SSL operates as a marine transportation company with 10 tankers and two LPG carriers to its customers worldwide.
SSL acquired the first ship, a bulk carrier, in February 1995. Subsequently diversified into the clean petroleum product tanker segment in 1996. It has since restructured its portfolio and consolidated its position as a strong player in clean petroleum products and dry bulk cargo.
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Source: The Hindu