Varun Shipping Company (VSCL) was incorporated on January 29, 1971 as a private limited company. Later on February 18, 1972 it was converted into a public limited company. The company started its operation in 1973 by acquiring one product tanker. The company’s corporate headquarters and registered office are located in Mumbai.
Today, Varun Shipping owns a fleet of 20 vessels comprising 10 LPG carriers, 3 crude oil tankers and 7 anchor handling towing and supply (AHTS) vessels, it provides a comprehensive shipping solution across the entire hydrocarbon product chain. The company is listed on Bombay Stock Exchange, National Stock Exchange, Ahmedabad Stock Exchange, Delhi Stock Exchange and Calcutta Stock Exchange. It has received ISO 9001:2000 certification for its quality management.
The company, as per few media reports, has decided to demerge ship management business and investment business, in the current fiscal.
LPG Sector- The company has acquired a Very Large Gas Carrier (VLGC) with cargo carrying capacity of 76,644 cbm in the year 2007. Thus VSCL is first shipping company in India to acquire VLGC -- the largest LPG carrier in the Indian fleet. The company owns 10 LPG carriers in India, which is the largest in terms of both fleet-size and cargo carrying capacity. It is the first Indian company to operate large AHTS vessel in the North Sea.
Crude oil- The company owns a fleet of 3 crude oil tankers with a cargo carrying capacity of 319,682 dwt.
Offshore- The company’s AHTS vessels cater to oil and gas companies operating offshore, for their exploration, production and development of oil and natural gas. It owns vessels namely Subhiksha, Sudaksha, Suvarna, Subhadra and Suchandra which are capable of operating in North Sea, Krishna Godavari basin, Bay of Bengal and the Atlantic Ocean, off the coasts of Nigeria, Brazil and Mexico. Besides these vessels, the company also owns two more AHTS vessels on Bareboat Charter cum Demise basis.
Awards and recognition
In 2006, Varun Shipping received 'Fastest Expanding Indian Shipping Company' by the National Maritime Day Celebrations Committee (Central), Directorate General of Shipping and Government of India.
The company’s Maharshi Krishnatreya-a LPG carrier was awarded “Ship of the Year (Indian Flag in Foreign Trade)” by National Maritime Day Celebrations Committee (Central), Directorate General of Shipping and Government of India in April 2008.
It received ‘The Marine and Offshore Services Award’ at the Seatrade Middle East & Indian Subcontinent Awards 2008 ceremony, held in Dubai.
Varun Shipping, on January 21, 2009, has acquired modern AHTS vessel
Varun Shipping aim to be a leading comprehensive hydrocarbon shipping company that provides shipping solutions in the LPG sector and strengthen its presence within the hydrocarbon sector.