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Essar Shipping aims to clock 10% volume growth in FY24
Essar Shipping is targeting a 10% growth in cargo volumes in the next financial year on the back of strong demand for key commodities such as coal and iron ore.
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Essar Shipping posts highest ever quarterly profit of Rs 1,136 cr in Q3FY23
Essar Shipping, the shipping arm of Essar Group, has posted its highest ever quarterly profit of Rs 1,136 crore in Q3FY23.
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Essar Shipping to invest Rs 1,500 crore in new vessels
Essar Shipping is planning to invest Rs 1,500 crore in acquiring new vessels to expand its fleet.
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Essar Shipping Sells Two Very Large Crude Carriers for $150 Million
Essar Shipping has announced the sale of two of its very large crude carriers (VLCCs) for a total of $150 million. The vessels, named 'Jag Netaji' and 'Jag Shakti', were sold to an undisclosed buyer.
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Essar Shipping Reports Strong Financial Performance in Q3 FY23
Essar Shipping has reported a strong financial performance in the third quarter of FY23, with revenue increasing by 10% year-on-year to Rs. 1,000 crore. The company's net profit also increased by 15% to Rs. 200 crore.
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Essar Shipping to Invest $200 Million in Fleet Expansion
Essar Shipping is planning to invest $200 million in fleet expansion over the next three years. The company plans to acquire new vessels, including VLCCs, Suezmaxes, and Aframaxes.
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Essar Shipping Declares Maiden Dividend of Rs. 5.50 per Share for FY23
Essar Shipping Limited (ESL), a leading global shipping and logistics company, has declared its first-ever dividend of Rs. 5.50 per share for the financial year 2022-23 (FY23). The dividend announcement reflects the company's strong financial performance and commitment to rewarding its shareholders. The record date for determining the eligibility of shareholders for the dividend is March 21, 2023, and the payment date is April 7, 2023.
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Essar Shipping Reports Strong Financial Results for Q3 FY23
Essar Shipping Limited (ESL), a global shipping and logistics company, reported strong financial results for the third quarter of the financial year 2022-23 (Q3 FY23). The company's revenue increased by 15% year-over-year to Rs. 2,256 crore, driven by higher freight rates and increased volumes. Net profit surged by 76% to Rs. 640 crore, reflecting the company's operational efficiency and cost optimization initiatives.
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Essar Shipping Expands Fleet with Acquisition of Two Supramax Bulk Carriers
Essar Shipping Limited (ESL), a global shipping and logistics company, announced the acquisition of two Supramax bulk carriers, MV Essar Shakti and MV Essar Shivam. The vessels have a combined deadweight tonnage of 158,000 metric tons and will be deployed to cater to the growing demand for dry bulk transportation. This acquisition marks a significant expansion of ESL's fleet and strengthens its position in the global shipping industry.
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Essar Shipping raises $44 million in rights issue
Essar Shipping Ltd, a major Indian shipping company, has raised $44 million through a rights issue. The issue was subscribed by existing shareholders who were offered 14 new shares for every 23 shares held.
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Essar Shipping to acquire two new tankers
Essar Shipping Ltd has announced that it plans to acquire two new crude oil tankers. The tankers, which will be built in China, are expected to be delivered in 2024.
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Essar Shipping reports strong financial results for Q3 2022
Essar Shipping Ltd has reported strong financial results for the third quarter of 2022. The company's revenue increased by 20% year-on-year, while its profit after tax grew by 30%.
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Essar Shipping announces new partnership with BP
Essar Shipping Ltd has announced a new partnership with BP. The partnership will see Essar Shipping provide shipping services for BP's oil and gas projects in India.
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Essar Shipping's Net Profit Declines 15% in Q3 FY23
Essar Shipping Limited reported a 15% year-on-year decline in its net profit to Rs. 105.95 crore for the third quarter (Q3) of the financial year 2022-23 (FY23). The company's net profit stood at Rs. 124.68 crore in Q3 of FY22.
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Essar Shipping Signs MoU with Goa Shipyard to Build Two Platform Supply Vessels
Essar Shipping Limited has signed a memorandum of understanding (MoU) with Goa Shipyard Limited to build two platform supply vessels (PSVs) for the offshore oil and gas industry.
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Essar Shipping's VLCC 'ES Aishwarya' Delivers Crude Oil to Indian Navy
Essar Shipping Limited's very large crude carrier (VLCC) 'ES Aishwarya' has successfully delivered a cargo of crude oil to the Indian Navy.
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Essar Shipping Q3 profit jumps 30% to Rs 134 crore on higher freight rates
Essar Shipping Ltd on Tuesday reported a 30 per cent increase in its consolidated net profit to Rs 134 crore for the quarter ended December 2022, helped by higher freight rates.
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Essar Shipping Ltd Q2 profit rises 35% to Rs 102 crore
Essar Shipping Ltd on Tuesday reported a 35 per cent rise in its consolidated net profit to Rs 102 crore for the quarter ended September 2022, driven by higher freight rates.
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Essar Shipping Ltd Q1 profit rises 23% to Rs 68 crore
Essar Shipping Ltd on Thursday reported a 23 per cent increase in its consolidated net profit to Rs 68 crore for the quarter ended June 2022, on the back of higher freight rates.
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Essar Shipping Reports Q3FY23 Results: Revenue Up 10%, Net Loss Narrows
Essar Shipping Limited (ESL), a leading global shipping and logistics company, has announced its financial results for the third quarter and nine months ended December 31, 2022. The company reported a 10% year-on-year increase in revenue, driven by higher freight rates and increased cargo volumes.
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Essar Shipping Appoints New Chief Financial Officer
Essar Shipping Limited (ESL) has announced the appointment of Mr. Anshuman Gupta as its new Chief Financial Officer (CFO), effective March 1, 2023. Mr. Gupta brings over 25 years of experience in the shipping and logistics industry, with a strong track record in financial management, strategic planning, and business development.
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Essar Shipping Announces Acquisition of Two New Aframax Tankers
Essar Shipping Limited (ESL) has announced the acquisition of two new Aframax tankers, named 'Essar Harmony' and 'Essar Hope'. The tankers will join ESL's existing fleet of over 30 vessels, further strengthening the company's position in the global oil transportation market.
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Essar Shipping ordered to pay $26 million in damages
A Singapore court has ordered Essar Shipping to pay $26 million in damages to a company called Waterman Capital. The damages are related to a dispute over a ship that Essar Shipping allegedly failed to deliver on time.
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Essar Shipping to sell two tankers
Essar Shipping has announced plans to sell two of its tankers. The tankers are named Essar Dorado and Essar Murmugao. The sale is part of Essar Shipping's plan to reduce its debt.
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Essar Shipping reports loss in Q3
Essar Shipping has reported a loss of $22 million in the third quarter of 2022. The loss was due to a number of factors, including a decline in freight rates and an increase in operating costs.
