Essar Shipping bets big on captive cargo; fleet renewal

Currently, ESL is in the process of replacing its old fleet with younger vessels

Essar Shipping Ltd (ESL), the logistics arm of Essar Group, is eyeing a 10 per cent growth in cargo handling during 2017-18 at a time when the capacity utilisation levels at shipping lines are low. ESL’s cargo handling had grown by 22 per cent in FY17, while the company’s 14-vessel fleet also grew its capacity utilisation to 94 per cent from 80 per cent in the previous fiscal.
 

Ranjit Singh, executive director and CEO, ESL said the company expects cargo handling to grow by 10 per cent year on year during 2017-18. He admitted that shipping business was going through