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Company type | Public company |
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BSE: 500630 NSE: ESSARPORTS | |
Industry | Shipping Ports Logistics |
Founded | 1945 |
Headquarters | Mumbai[1] India |
Key people | Shashi Ruia (Chairman) Prakash Tulsiani (CEO)[2] |
Revenue | ₹12.15 billion (US$150 million) (2010-2011)[citation needed] |
Parent | Essar Group |
Website | essar.com |
Essar Shipping Ltd., now Essar Shipping Ports & Logistics Limited, is an Indian shipping corporation for the global energy business. Established in 1945, Essar Shipping was formally incorporated in 2010 and is listed on the Bombay Stock Exchange.[3] Headquartered in Mumbai, it operates as a subsidiary of the Essar Group.
The company's fleet handles a daily average of eight million barrels of crude oil, 320,000 barrels of petroleum products and 355,000 tons of dry bulk cargo. The company currently has a fleet of 26 vessels, with an additional 12 new ships on order. It provides contract drilling services to global oil majors, with a fleet of 13 onshore rigs and one semi-submersible offshore rig; two new jack-up rigs on order.[citation needed] Essar Shipping Ports & Logistics Ltd was the first Indian shipping company to obtain the International Safety Management Code (ISM) in 1995 and is also ISO 14001 certified.[citation needed]. The company has proposed to maximise the fleet in 2017-18 by adding new VLCCs & ULCCs.[needs update][clarification needed]