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Tanker Shipping Entry strategy
" In 2000, the client had about 0.9 million DWT of Tanker fleet. With global tanker demand increasing and earnings in tanker shipping peaking, client wanted to explore the business and make investments in increasing tanker fleet. "
Client is currently largest private sector shipping company in India with business in shipping and offshore oil field services.
Understanding changing global patters in tanker shipping was important. Indian ports lacked infrastructure to handle large vessels. Similarly impact of government policies on Tanker business had to be established.
i-maritime strengths lies in the vast shipping database across all Indian ports. Ship sizes and parcel sizes of ships calling at Indian ports was analyzed. Study of inland logistics in terms of regional distribution of refineries and their future expansion plans was done to estimate demand of crude imports and products exports. Expansion plans of major players in tanker shipping business revealed the gap in demand and supply, which happened to be the primary target market.
i-maritime appraised opportunities and threats while entering in tanker shipping business. i-maritime created a long term strategy for client to establish into the niche VLCC market. Strategy to expand by providing refineries technical and commercial expertise by signing Contract of Afreightment (COA) was framed. Acquisition of two LPG carrier was suggested with prospects in coastal movement.
In 2006, client has increased fleet to 2.77 million DWT with 1.71 million DWT crude carrier and 0.64 million DWT of product carrier and enjoys approvals from oil giants like SHELL, BP for crude movement.
Contact for further information
i-maritime Consultancy Pvt. Ltd.
206, Hermes Atrium, Sector 11,
Belapur, Navi Mumbai, India