Varun Shipping acquires largest AHTS vessel

Private sector shipping company, Varun Shipping Company has taken delivery of third anchor handling and towing supply vessel (AHTS) with BHP of 16,085. This is a specialised vessel which is used for deep sea oil exploration activity going on in areas like North Sea, KG basin and Atlantic Ocean off the coasts of Nigeria, Brazil and Mexico.

This vessel is said to be the most powerful AHTS vessel under Indian flag.

With this acquisition, the company will own a diversified fleet of 21 vessels comprising of 12 LPG carriers, 3 double hull aframax crude tankers, 5 anchor handling towing and supply vessels and 1 product tanker.

The acquisition was financed partly out of company's internal resources and partly out of long term loans from State Bank of India and Bank of India, London.