The Ruias-promoted Essar Shipping and Logistics has demerged its shipping, logistics and oil field business into a separate entity, a top company official said.
The newly created entity will be called Essar Shipping Limited. The existing entity will also undergo a change in nomenclature and will be called Essar Port Limited, Group Chief Executive, Prashant Ruia, said here.
The new company -- Essar Shipping -- will be listed on the bourses soon, he added.