M&A
Seven Islands Shipping buys very large gas carrier from US firm Dorian LPG for $43-M
Mumbai-based, IPO-bound Seven Islands Shipping Ltd (SISL), India's second-biggest private oil tanker shipping company, has ventured into the gas transportation business by acquiring a very large gas carrier (VLGC) for about USD 43 million. Seven Islands Shipping is backed by Indian born Canadian businessman Prem Watsa-led Fairfax India. The 2006-built, 82,000 cubic metre capacity VLGC was purchased from Stamford, CT (USA)-based, NYSE-listed Dorian LPG Ltd. The VLGC ‘Captain Markos NL' has since been renamed ‘Pine Gas' and registered under the Indian flag.
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