Background
Seven Islands Shipping Limited (SISL) was founded in the year 2002 and is based in Mumbai, India. It is engaged in the seaborne transportation of crude oil, refined oil products, palm oils and liquefied petroleum gas (LPG). The company owns a current fleet sized at 25 Indian-Flagged ocean-going tankers ranging from small vessels right up to the Suezmax category, further to the VLGC category. The fleet consists of 2 crude oil tankers, 21 product carriers and 2 gas carriers.
Pedigree
SISL was founded by Capt. Thomas W. Pinto - a master mariner having over 40 years of experience in shipping. The company’s operations and technical teams consist of highly experienced master mariners and chief engineers. SISL has nurtured relationships with India’s largest public and private oil companies and their subsidiaries for over 19 years. It has received a significant equity investment from the investment arm of Fairfax India Holdings – one of the most prestigious investment companies in the world.
Distinctions
SISL is the second largest shipping company in India in the private sector. It is the market leader in tanker time charters along the Indian coast and has been profitable every year since its inception. SISL has been recognized as the fastest-growing shipping company in India over the last few years and is rated CRISIL A+/Stable by CRISIL Ratings – a division of Standard & Poor’s.
Operational Strategy
SISL has a de-risked and prudent strategy of having majority of vessels (>80% of fleet) on time-charter with clear revenue visibility over the next few years. It maintains full compliance with Tanker Management
Safety Assessment (TMSA) norms.