Pallonji Shapoorji Mistry, the Indian-born Irish construction tycoon, has been linked to his first medium range tanker swoop.
The reclusive billionaire, who chairs the Shapoorji Pallonji Group, has a number of shipping joint ventures, both in wet and dry, including a pair of FPSOs and a fleet of chemical tankers.
Broking sources now have tagged the Pallonji name to a sale by Italian owner Dalmare, reporting that Pallonji has snapped up the six-year old MR tanker Caletta for just under $22m.
In July last year the parent of Leghorn-based Dalmare completed a very significant debt restructuring. It exited dry bulk and today is focused on Mediterranean liquid bulk trades. In July this year the company offloaded a 2002-built MR tanker to Nigerian interests.