The Chennai-based Sanmar Group has opened a new subsidiary in Singapore—Sanmar Shipping SG Pte Ltd, to expand its global operations. This is the first subsidiary by the group for the shipping division.
A prominent player in the international tanker market, the company hopes to leverage its presence in Singapore both for operational and strategic efficiency, says a social media post by the company.
The Sanmar Group Chairman, Vijay Sankar, expressed his vision to take the fleet to 20 ships in the next few years.
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SSL operates a fleet of 12 ships, including tankers and LPG carriers. Commencing operations in September 1994, it acquired its first ship, a bulk carrier, in February 1995. It subsequently diversified into the clean petroleum product tanker segment in 1996.
CV Subba Rao, Managing Director, Sanmar Shipping, said that he sees good potential in the LPG sector and the company has a good base in the Clean Petroleum Products market.