Ashapura Shipping Group, a longstanding logistics and stevedoring player based in Kandla, India, has acquired a 14-year-old handysize bulk carrier.
The vessel, previously named Arawana and sold by Wilmar, has been renamed Imperial Varalaxmi. The purchase price has not been disclosed.
Founded in the early 1990s, Ashapura Shipping operates a fleet of equipment including tippers, excavators, cranes, and grabs. The company provides large-scale bulk and breakbulk cargo handling, stevedoring, and project logistics services, primarily supporting key industrial sectors along India’s west coast. It has previously chartered vessels to support its operations.
Ashapura Shipping Group CEO, Raja Gunti, highlighted the strategic rationale behind the move.
“Owning is not about holding steel. It is about managing a revenue-generating asset with long-term earning potential. Every day at sea strengthens cash flow; every idle day erodes value. Our focus is maximising time-at-sea and protecting margins across market cycles.”
The company says it has plans to add more vessels to its fledgling fleet.
This acquisition marks Ashapura Shipping's transition from a primarily shoreside and chartering-focused operator to one with direct control over tonnage. It aligns with broader trends among Indian logistics firms seeking greater integration and resilience in volatile shipping markets.
Source: Splash247
