India’s Sanmar Group joins the VLCC club

India’s Sanmar Group has made a significant leap into the global crude oil transportation sector with the acquisition of a Very Large Crude Carrier (VLCC), named Sanmar Herald. This strategic move expands the company’s maritime portfolio and elevates its fleet capacity beyond the 1 million deadweight tonnage (dwt) mark. The acquisition underscores Sanmar’s commitment to enhancing its role in meeting national energy demands.

Details of the Acquisition

The Sanmar Herald, a 2007-built vessel from Daewoo Shipbuilding, was previously known as the Maran Canopus while part of the Maran Tankers fleet. The acquisition was finalized through a private deal, although the purchase price remains undisclosed. Industry brokers estimate the market value of the VLCC to be around $46 million, reflecting its significant worth in the shipping industry.

Measuring 333 meters in length and 60 meters in width, the Sanmar Herald now stands as the largest vessel in Sanmar’s expanding shipping fleet. It is powered by a Hyundai B&W 6S90 MC-C main engine, delivering 43,020 brake horsepower. This robust tanker is set to transport crude oil both domestically within India and on international routes, enhancing the company’s operational capabilities.

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Vijay Sankar, the group chairman, emphasized the importance of this acquisition, stating, “The Sanmar Herald is a significant addition to our fleet, propelling us past the 1 million tonne DWT milestone and accelerating our mission to address national energy requirements through cost-effective shipping solutions.” Founded in the 1960s and headquartered in Chennai, Sanmar Group is recognized as one of India’s leading industrial conglomerates, with diverse interests that include chemicals, engineering, shipping, and metals.