|
As per the scheme of arrangement approved by the Gujarat High Court, the shareholding of ESPLL had been split in the ration 2:1. For every three shares of ESPLL held, shareholders received two shares of Essar Ports, and one share of Essar Shipping. Shipping, Logistics & Oilfields Services businesses Essar Shipping Limited has a diversified fleet of 26 vessels, including VLCCs, Capesizes, Supramaxes, mini bulk carriers and tugs. The company has placed orders for 12 new ships, which are expected to join the fleet over the next 24 months. 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, which will be joining the fleet over the next 18 months. 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 owns transshipment 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, Oil & Gas, Power, BPO & Telecom Services, Shipping, Ports, and Projects. With operations in more than 25 countries across five continents, the Group employs 75,000 people, and has revenues of USD 17 billion. For more information, visit www.essar.com. Essar Group press release |
Essar Shipping Ltd receives SEBI approval for listing of shares