Varun Shipping acquires aframax crude oil tanker

MUMBAI: Varun Shipping Company has entered into a memorandum of agreement for acquiring its third double hull 2006 built aframax crude oil tanker.

The vessel is scheduled to be delivered in January, 2007.

With this acquisition, the company will own a fleet of 18 vessels. Acquisition of this vessel forms part of company's plan to invest upto Rs 2000 crore for expansion of its fleet.