AsiaFinance and InsuranceTankers

Seven Islands Shipping files for Mumbai IPO

Indian tanker player Seven Islands Shipping is looking to raise INR6bn ($82.3m) from an initial public offering (IPO) in Mumbai.

The company started operations in 2003 with one vessel and currently has 20 ships with a total deadweight tonnage capacity of 1.1m tonnes on its books.

Seven Islands said the cash raised would go towards buying secondhand tonnage, specifically a VLCC and an MR tanker.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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