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.