Kandla-based Ashapura Shipping Group has transitioned from a logistics operator to a shipowner with the acquisition of a 14-year-old handysize bulk carrier from Wilmar International.
The vessel, previously named Arawana, has been renamed Imperial Varalaxmi. The purchase price has not been disclosed.
Founded in the early 1990s, Ashapura Shipping has built a strong presence in bulk and breakbulk cargo handling, stevedoring, and project logistics, primarily along India’s west coast. The company operates a fleet of tippers, excavators, cranes, and grabs, serving key industrial sectors. It has also chartered vessels in the past, but this marks its formal entry into ship ownership.
Raja Gunti, CEO of Ashapura Shipping, described the move as a strategic shift toward asset-based growth.
“Owning is not about holding steel. It is about managing a revenue-generating asset with long-term earning potential. Every day at sea strengthens cash flow; every idle day erodes value. Our focus is maximising time-at-sea and protecting margins across market cycles,” he said.
The company indicated that it plans to expand its owned fleet further, signalling a long-term commitment to strengthening its position in the maritime logistics sector.