Diversified across core economic sectors
Essar Shipping is India’s second largest private sector shipping company, which has the youngest fleet in the country with a combined deadweight tonnage of 1.12 million. This capacity is deployed through both spot market, and long-term contracts and CoAs (Contracts of Affreightment). The business has invested in sustainable technologies like paperless navigation, fitting scrubbers on-board to make vessel emissions IMO compliant, and Green Passports. It is also the first and only Indian shipping company to be certified by American Bureau of Shipping for compliance with the ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 standards for the operation of its bulk carriers and tankers.
The Company also operates an oil & gas drilling business that provides contract drilling services to oil & gas companies across the globe. This business owns a fleet of land and offshore rigs.
With a 40-year track record, Essar Shipping has invested INR 5,000 crore in building and modernising its fleet. The Company has increased its cargo handling from 15.52 MT in FY 2017-18 to 22 MT in FY 2018-19, and is aiming to clock 40 MT in the current year.
The Company is a pioneer in coastal shipping in India and has a 20 percent market share in the dry bulk cargo segment. With the Indian port sector being driven by high growth in external trade, and the Government targeting a port capacity of 3,200 MT by 2020, the Indian shipping sector and Essar Shipping are both poised for a significant upswing in maritime trade. The policy environment is also improving for the sector with the Government introducing supportive schemes, like ROFR (Right of First Refusal), Indian Controlled Tonnage and tonnage tax benefits.
Essar Projects is the Engineering, Procurement & Construction (EPC) arm of the Essar Group.
The genesis of Essar Projects aligns with that of the Essar Group. The Group began as a construction company in 1969, working on various marine and offshore contracts, gradually becoming the first Indian Company to lay Offshore Pipelines for ONGC in 1982.
Essar Projects has built strong EPC capabilities, while offering unique, collaborative, end-to-end projects’ delivery models. The experience of executing mega projects for our Group companies, providing post-commissioning assistance during early stages of operations & maintenance and further, integrating the lessons learnt therein into basic design and execution philosophy for all new projects – including those of external clients – brings in an OWNER’S PERSPECTIVE to our EPC delivery.
In the past five decades, Essar Projects has delivered mega projects across various sectors like Refineries, Tankages & Terminals, Petrochemicals & Fertilizers, Offshore & Subsea, Pipelines (Oil & Gas, Water, Iron Ore Slurry), Minerals & Metals, Power, Ports & Jetties, Airports, Buildings & Townships, Water Systems and Sewage Treatment Plants.
With footprints across India, Middle East, Europe, South-East Asia, Americas and also some of the challenging geographies of Africa and Australasia, the Projects Business of Essar is now embarking upon a new journey. Essar Projects Mauritius Limited has been recently incorporated to consolidate Projects’ Business across geographies so as to align with changing industry dynamics by harnessing EPCM capabilities.