Clarksons to set up base in India

London-based Clarksons, the world's leading shipping service providers with a dynamic ship-broking heritage are in the process of setting shop in India.

With a global network of offices, the company has drawn up aggressive plans to take advantage of the growing opportunities in the country and the recent development in oil transportation in particular.

Speaking to ETSL from London, Bob Knight, head of Clarksons Tankers, said, “To begin with, the focus will be on tanker chartering, and we will not be having any joint venture partner. Initially, we will establish an office in New Delhi and depending on the business consider further expansion.”

According to oil company circles, this comes in the wake of the recent decision by Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) to follow IndianOil which had moved out of Transchart, the centralised chartering wing attached to the shipping ministry.

IndianOil was given the freedom a year ago to charter tankers directly from the international market for importing crude. According to the company sources, it has succeeded in effecting a saving of Rs 60 crore between June 2005 and May 2006 on its shipping expenses and gained an additional Rs 10 crore during the last one year by levying ‘address commission’ on both Indian and foreign vessels.