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, 2008 was Rs.8,508.07 million (US$ 210.55 million) and its net profit was Rs.2,257.79 million (US$ 55.87 million).
Varun has a track record of being profitable and distributing dividends uninterruptedly to its shareholders for the past 24 years.
Varun owns a fleet of 20 vessels, comprising 11 LPG carriers, 3 crude oil tankers, 1 product tanker and 5 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 80 per cent 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 72 per cent of all Public Sector Undertaking (PSU) cargoes br/ought into India during the period April, 2007 to March, 2008.
Varun owns three 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 set up a subsidiary, namely, VSC International Pte Ltd in Singapore in 1995 and has also established a br/anch 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 Vice Chairman and Managing Director was
awarded the “Varuna Award”, by the National Maritime Day Celebr/ations Committee formed by
The Directorate General of Shipping, Government of India. (Click here to view the award)
Further, in October, 2008, the Company was awarded the prestigious “The Marine and Offshore Services Award” at the Seatrade Middle East and Indian Subcontinent Awards, 2008 held in Dubai, UAE. (Click here to view the award)
In November 2006, Mr. Yudhishthir D. Khatau, 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 was awarded Certificate of Excellence and “ Ship of the Year (Indian Flag in Foreign Trade)” award by National Maritime Day Celebr/ations (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. (Click here to view the Award)
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