Ashapura Shipping Enters Shipowning with Handysize Bulk Carrier Acquisition

Credit: Jerzy Nowak / VesselTracker

India’s maritime and logistics sector has a new shipowner. According to Splash 247, Ashapura Shipping Group has acquired a 14-year-old handysize bulk carrier from agribusiness major Wilmar International, marking its formal entry into vessel ownership.

The ship, previously named Arawana, now sails under the new name Imperial Varalaxmi. The purchase price has not been disclosed.

Based in Kandla, Ashapura Shipping was founded in the early 1990s. The company built its business around bulk and break-bulk cargo handling, stevedoring, and project logistics, mainly along India’s west coast. Its fleet of tippers, excavators, cranes, and grabs supports large-scale industrial operations. Until now, the group relied on chartered vessels rather than owned tonnage.

CEO Raja Gunti described the move as a strategic shift. He stressed that ship ownership is about managing a revenue-generating asset with long-term earning power. According to him, maximising time at sea and protecting margins across market cycles will remain the company’s core focus.

Ashapura Shipping has signalled that this acquisition is only the beginning. The group plans to expand its owned fleet as it strengthens its position in the Indian bulk shipping market.

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