Varun Shipping Acquires VLCC

Mumbai: Varun Shipping has bought a Very Large Crude Carrier (VLCC), which is claimed to be India''s largest LPG carrier. With this take over, Varun Shipping now owns nearly 80% of the total LPG tonnage at present operating under Indian flag. The take over was financed partly out of the company''s own resources and partly out of a long-term loan from ICICI Bank.