Sadhav Shipping announces joint venture with United Petro Shipping PTE for offshore supply base

Sadhav Shipping Ltd. has entered into a joint venture agreement with United Petro Shipping PTE Ltd to establish an offshore supply base in India. This strategic collaboration aims to bolster the infrastructure for offshore logistics and supply chain management.

Key Details of the Joint Venture:

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  1. Parties Involved: Sadhav Shipping Ltd. and United Petro Shipping PTE Ltd.
  2. Objective: To set up a state-of-the-art offshore supply base in India.
  3. Governance: The joint venture will have one director appointed from each company on the board of the new entity.
  4. Shareholding: No shareholding by either party in each other’s company.
  5. Conflict of Interest: The agreement explicitly states no potential conflict of interest arises from this collaboration.

This partnership is expected to enhance India’s offshore logistics capabilities, marking a significant milestone in the growth strategy of Sadhav Shipping. Further updates on project timelines and operational strategies are anticipated in due course.