Varun Shipping Company Ltd
Varun Shipping Company Ltd Company History
Varun Shipping Company Limited is an India-based shipping company. The Company provides shipping solutions across the entire hydrocarbon product chain. It provides support services to the oil exploration industry.
2001
Launches a rights issue of Rs 36.26 crore to fund its $40-million fleet addition plan. The issue involves 3,62,61,591, 14 per cent unsecured fully convertible debentures of Rs 10 each for cash at par, aggregating Rs 36,26,15,910, in the ratio of one unsecured fully convertible debenture for every one equity share held on February 9, 2001
Promoters increase stake in the company from 36% to 45%
Financial institutions increase stake in the company from 20% to 25%
2001
2002
Buys a 1983-build tanker with a 7,335 dead weight tonnage (DWT) on bare-boat charter-cum demise (BBCD) basis.
Acquires its fourth LPG Carrier M V Maharshi Dattatreya. The new vessel has a cargo carrying capacity of 24130 m3 .
2002
2003
Unit Trust of India, Unit Scheme 19 sells 14,90,699 shares amounting to 2.06% of Varun Shipping Company Ltd., reduces its stake to 25,20,000 shares amounting to 3.48% of the paid up capital of the Company
2003
2004
Varun Shipping Board approves forfeiture of Shares
Acquires its fifth LPG carrier (Maharshi Shivatreya) making it the owner of India's largest LPG fleet accounting for 65 per cent of the total LPG tonnage at present operating under the Indian flag
2004
2005
Varun Shipping acquires its eighth LPG Carrier, MAHARSHI DEVATREYA on April 25, 2005
2005
2006
The Company has entered into a Memorandum of Agreement (MOA) for acquiring its third modern double hull 2006 built Aframax crude oil tanker.
Varun Shipping Company Ltd has entered into a Memorandum of Agreement (MOA) for acquiring a Very Large Gas Carrier (VLGC) having a cargo carrying capacity of approximately 76,644 cbm.
2006
2007
Varun Shipping Company Ltd has informed that the Company has taken delivery of second 16000 BHP Anchor Handling and Towing Supply Vessel with Bollard Pull in excess of 180 Tons.
Varun Shipping has bought a Very Large Crude Carrier (VLCC), which is claimed to be India's largest LPG carrier.
2007
2009
Varun Shipping Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 27, 2009, inter alia, Mr. Khurshed M Thanawalla was appointed as a Director on the Board of Directors of the Company with effect from January 27, 2009.
Varun Shipping Company Ltd has acquired highly sophsticated AHTS Vessel.
2009
