Sanmar Shipping plans to have 20 ships in the next few years

Sanmar Shipping Ltd., (SSL), a part of Chemplast Sanmar, has further plans to strengthen its fleet by adding eight more ships taking the total to 20.

SSL has inaugurated its business in Singapore and has acquired two second hand product tankers registered with the Singapore flag.

Sanmar Shipping runs a fleet of ten ships, comprising eight tankers and two LPG carriers, all flagged in India. C V Subba Rao, Managing Director, Sanmar Shipping, pointed out that Sanmar Shipping “has not moved any of its Indian flag ships to the Singapore flag.” “Nothing has been transferred from India. Our Indian flag fleet remains the same,” he asserted. Sanmar Shipping “could” expand its Singapore fleet. “We will have to wait and see because shipping assets are highly priced today”.

The company indicated that it is seeking tax incentives and exemptions to carry out offshore financing programs to purchase ships.

Yangzijiang Shipbuilding

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