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Last 115.60 INR
Change Today -0.40 / -0.34%
Volume 13.4K
ESRS On Other Exchanges
Symbol
Exchange
Natl India
As of 7:05 AM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).
text size: T | T
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Company Description

Contact Info

Essar House

11, K. K. Marg

Mahalaxmi

Mumbai, 400034

India

Phone: 91 22 6660 1100

Fax: 91 22 2354 4330

Essar Shipping, Ltd. operates as a sea logistics company in India. The Company focuses on transportation solutions for the global energy business. It offers services in the areas of bulk transport, supply chain management and storage and distribution. The Company operates in three main business areas: The Company's energy transportation group provides sea transportation management services to the global energy industry, including the United States, European and Indian oil companies. The Company has relationships with global oil companies and its tankers have been chartered to international oil companies like Shell, Exxon/Mobil, Chevron, Statoil, Ultramar, Inc., BP Amoco and Texaco. The Company's Integrated Bulk/Petroleum Product Transportation Services Group (IBPPT) offers supply chain management services for the sea transportation of bulk cargo and refined products. This group services steel, power, cement, fertilizer and petroleum companies in South East Asia and India, for clients such as Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum. It also handles 5 million metric tonnes of coastal dry bulk cargo annually. The Company's crude oil and refined products handling and storage group provides storage and distribution services in India. ESL, through a wholly owned subsidiary Vadinar Oil Terminal, Ltd., owns port and terminal facilities to handle the receipt, storage and dispatch of crude oil and petroleum products at Vadinar port in Jamnagar, Gujarat. Fleet The Company’s IBPPT fleet of 24 vessels during the financial year ended March 31, 2005, were split into the bulk carrier and product carrier divisions. Product Carrier Division: The Product Carrier Division consists three vessels. These vessels were employed largely with Indian oil companies and also other international charterers. Bulk Carrier Division: The Company’s Bulk Carrier fleet consist 3 Capesize vessels, 3 Handymax/Handysize vessels, 11 Mini bulk carriers and 4 Tugs. The vessels were employed on Contracts of Affreightment with steel mills and power generation plants in India and South East Asia to provide supply chain logistics services on Indian Coast and Intra-Asian trade. Clients Energy Transportation The Company's clients include Sunoil International; Coastal Tankers Limited; Navion / Statoil Petrobras; Petroleos de Venezuela, SA; Indian Corporation Limited; Texaco / Stentex / Chevron (ChevronTexaco Corp.); Bharat Petroleum Corporation Limited; Exxon Mobil; Hindustan Petroleum Corporation Limited; and British Petroleum (BP). Integral coastal transportation and supply chain management services The Company's clients include Cargil; Indo Rama Group; Essar Steel Limited; EDF & Man Group P/c; Jindal Vijaynagar Steel; Tamilnadu Electricity Board; Ispat Group; Oil and Natural Gas Commission Limited; South Indian Corporation (Agenecies) Limited/ KPCL; Indian Oil Corporation Limited; Emirates Trading Corporation; Bharat Petroleum Corporation Limited; Commodities Trading Corporation (Dubai); and Hindustan Petroleum Corporation Limited. Subsidiaries The Company's subsidiaries include Vadinar Oil Terminal Limited; Essar Sisco Ship Management Company Limited; Essar International Limited, Guernsey, Channel Islands; Energy Transportation International Limited, Bermuda (wholly owned subsidiary of Essar International Limited); Energy I Limited, Bermuda (wholly owned subsidiary of Energy Transportation International Limited); Energy II Limited, Bermuda (wholly owned subsidiary of Essar International Limited). During the period ended March 31, 2005, the Company had de-subsidiarised two of its non-operating, wholly owned subsidiaries namely, ESL Sea Logistics Limited, Cyprus, and Prime Sea Logistics Limited, Cyprus. The Company has incorporated Essar Pipeline Limited as its wholly owned subsidiary, which has also been de-subsidiarised in March 2005. Subsequent to the sale of the vessel, Mt Shravan in February 2005, by its subsidiary, Energy I Limited, the Company has initiated proceedings to liquidate the subsidiary. Acquisitions During the period ended March 31, 2005, the Company acquired one Capesize Bulk carrier, MV Chandi Prasad. In October 2007, the company has acquired a capsize vessel, named MV Govind Prasad, to its fleet. It is 263 metres long and of 129,237 deadweight tonnage. Dispositions During the period ended March 31, 2005, the Company sold its Very Large Crude Carrier (VLCC), MT Ashna. The said vessel was taken on a Long Term Time Charter from the buyer by Energy Transportation International Limited (a wholly owned subsidiary of Essar International Limited). During the period ended March 31, 2005, the Company entered into an Memorandum of Agreement (MOA) to sell four of its Suezmax tankers (the four tankers are on an average 14 years old). All the four vessels were delivered in April 2005.

 

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Company Last Change
Bharat Petroleum Corp Ltd 783.70 INR +18.95
Hindustan Petroleum Corp Ltd 630.00 INR +4.85
Indian Oil Corp Ltd 364.75 INR +3.55
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Valuation ESRS Industry Range
Price/Earnings 13.5x
Price/Sales 2.6x
Price/Book -- Not Meaningful
Price/Cash Flow 7.3x
TEV/Sales -- Not Meaningful
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