Shapoorji Pallonji makes first MR tanker play

Shapoorji Pallonji makes first MR tanker play

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.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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