Company Profile For Varun Shipping Company Limited

Varun Shipping Company Limited is an India-based company that is engaged in the business of shipping. The Company’s fleet of 11 liquid petroleum gas (LPG) carriers, including nine medium size (MGC), one large size (LGC) and one very large size (VLGC), has been deployed on a mix of time charters and spot charters, with charterers, such as Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Exmar and Pertamina. In the crude oil sector, the Company owns three double hull Aframax crude oil tankers, which are placed in the Sigma Tanker Pool. In the offshore support sector, the Company owns and operates a fleet of seven anchor handling towing and supply (AHTS) vessels, which are deployed on time charters and spot charters in India and overseas. The Company’s wholly owned subsidiary is VSC International Pte Ltd., whose activities include owning, chartering and leasing of vessels.

BRIEF: For the fiscal year ended 31 March 2009, Varun Shipping Company Limited's revenues increased 5% to RS9.95B. Net income decreased 46% to RS1.23B. Revenues reflect an increase in income from operations and higher profit on sale of ship & other assets. Net income was offset by an increase in operating costs, higher administration costs, higher depreciation expenses and increased interest & finance expenses.

Varun Shipping Company Limited
Laxmi Building
6 Shoorji Vallabhdas Marg
Mumbai     400 001
P: +9122.56350100
F: +9122.56350274

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