Chambal Fertilisers and Chemicals Ltd., the leading Indian private fertilizer, has recently decided to spin-off of its shipping subsidiary of India Steamship Company (ISS) Ltd., now wholly owned by Chambal Fertilisers.
ISS was founded in 1928 and became part of the Chambal Fertilisers in 2004. The shipping company has a fleet of Aframax tankers from six Urvi Ratna, Ratna Puja Ratna Shruti, Ratna Shradha, Ratna and Ratna Shalini Namrata total capacity of over 600,000 deadweight tons.
In the fiscal year ended last March 31 the activities of India Steamship has generated revenues of 30.8 billion rupees (689 million dollars) compared to 29.7 billion rupees a year ago.
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