India’s Sanmar Group has officially marked its entry into the global crude oil transportation sector with the acquisition of a VLCC, the Sanmar Herald. The move sees the privately held conglomerate broadening its maritime portfolio as it crosses the 1m dwt threshold for its fleet.
The 2007-built Daewoo Shipbuilding unit—formerly sailing as the Maran Canopus under the Maran Tankers fleet—was snapped up by Sanmar in a private deal. No price was disclosed, though brokers suggest the VLCC’s market value hovers around $46m.
Measuring 333 metres in length and 60 metres wide, the Sanmar Herald is now the largest vessel in Sanmar’s growing shipping stable. Propelled by a 43,020 BHP Hyundai B&W 6S90 MC-C main engine, the tanker will transport crude oil both within India and internationally.
“The Sanmar Herald is a significant addition to our fleet, propelling us past the 1 million tonne DWT milestone and accelerating our mission to address national energy requirements through cost-effective shipping solutions,” said group chairman Vijay Sankar.
Founded in the 1960s and headquartered in Chennai, Sanmar Group is one of India’s leading industrial conglomerates, with diversified interests spanning chemicals, engineering, shipping, and metals.
