India Steamship, erstwhile India Steamship Company Limited was incorporated in 1929 and is one of the oldest shipping company in the country with a substantive past.
India Steamship was initially engaged in the liner trade and became a part of the K.K.Birla Group in 1970. Another K.K.Birla Group company Ratnakar Shipping Company Limited having bulk carriers and tankers, was amalgamated into India Steamship in the year 1990 to have diversified fleet.
With the Indian economy booming and the associated need for oil security, Chambal Fertilisers & Chemicals Limited (CFCL) another K.K.Birla Group company, a major player of fertilizers in India decided to enter the energy, transportation sector through the acquisition of the India Steamship Co. Ltd and India Steamship was merged with CFCL in September 2004.
India Steamship, a Shipping Division of CFCL has a fleet capacity over 600,000 DWT in the form of six Aframax Tankers. Three of these five Aframax Tankers of about 105,000 DWT each joined the fleet between April and July 2008. Another ship of 105000 joined the fleet in the first quarter of 2010.
With the strong financials and market standing of CFCL behind it, India Steamship is poised to grow. Tonnage is also being added by chartering activities through a subsidiary in Singapore with the aim of achieving critical mass in terms of capacity. Simultaneously its corporate strategy is being re-alligned to make it more agile and customer focused in today’s competitive global environment. more