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Shipping stock in focus after it forms JV with United Petro shipping for offshore supply base in India

Leading shipping company has formed a Joint Venture with United Petro Shipping PTE Ltd to establish an Offshore Supply Base in India, aiming to enhance offshore logistics operations and market presence.
Shipping stock in focus after it forms JV with United Petro shipping for offshore supply base in India
Shipping stock in focus after it forms JV with United Petro shipping for offshore supply base in India

Introduction:

Major shipping company has entered into a Joint Venture with United Petro Shipping PTE Ltd to establish an Offshore Supply Base in India. This partnership will strengthen operations in the offshore supply and logistics sector, expanding market presence.

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Share price movement of Sadhav Shipping:

On January 13, 2025, Sadhav Shipping Limited opened at ₹138.00, down 3.57% from its previous close of ₹138.55. The stock reached a high of ₹138.00 and a low of ₹127.05. By 4:00 PM, it traded at ₹133.60, with a market cap of ₹191.75 crore.

Sadhav Shipping Forms JV for Offshore Supply:

Sadhav Shipping Limited has entered into a Joint Venture Agreement with United Petro Shipping PTE Ltd to establish an Offshore Supply Base in India. This partnership will boost the company’s operations in the offshore supply and logistics sector.

The Joint Venture will grant special rights, including the right to appoint directors on the board and first subscription in case of share issuance. It aims to expand both companies’ presence in India’s growing offshore energy sector, enhancing their competitive advantage.

The deal is not considered a related-party transaction, with no conflict of interest arising from the agreement. Sadhav Shipping has committed to providing additional updates in the event of amendments or termination.

Stock performance of Sadhav Shipping for Period of 1 week, 1 month and 6 months:

Sadhav Shipping Limited has faced a decline in stock performance, with a 7.57% drop over the past week and an 8.00% decline over the past month. Over the past six months, the stock has fallen by 39.6%.

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Shareholding pattern of Sadhav Shipping :

All values in %Sep 2024Mar 2024
Promoter69.40%69.40%
FII0.10%0.00%
DII0%0%
Public30.50%30.50%
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About Sadhav Shipping:

Sadhav Shipping Limited (NSE: SADHAV) is a Mumbai-based maritime company with over 20 vessels, specializing in oil spill response, coastal and inland cargo transportation, and operations at major Indian ports. It pioneered Tier-1 Oil Spill Response services in India.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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