Mumbai’s Tolani Shipping pushes deeper into tankers with latest acquisition
Tolani Shipping Expands Fleet with Major Tanker Acquisition
Mumbai-based Tolani Shipping is making significant strides in the wet trades, nearing the acquisition of its third clean tanker, the Clarice. This 26,000 dwt stainless steel tanker, built in 2014 by Asakawa Shipbuilding and currently owned by Shenlong Maritime, is priced at approximately $29.5 million, marking Tolani’s largest tanker purchase to date. This move signals a notable shift for the company, which has traditionally focused on dry bulk shipping since its inception in the 1940s.
Strategic Shift to Wet Trades
Historically, Tolani Shipping has been a dry bulk owner, avoiding the tanker segment for decades. However, in early 2023, the company ventured into the stainless steel chemical tanker market, acquiring two J19 units for just under $40 million. This strategic pivot reflects Tolani’s commitment to diversifying its fleet and adapting to changing market demands.
With the impending acquisition of the Clarice, Tolani Shipping’s fleet will expand to nine vessels, boasting an average age of 16 years. This is relatively young compared to other private shipping companies in India. Notably, eight of the ships in Tolani’s fleet are Japanese-built, underscoring the company‘s focus on quality and reliability in its operations.
As Tolani Shipping continues to evolve, its recent investments in the tanker market position it well for future growth and competitiveness in the maritime industry. The company’s proactive approach to fleet expansion and modernization is likely to enhance its standing in the global shipping landscape.
