Emerald Maritime is to step up its plans to grow bulk cargo market share on India’s East Cast.
Dubai based Emerald Maritime has stepped up its plans to grow its bulk cargo export-import market share in India according to a company press release.
The company currently has more than 50% of its annual business portfolio dedicated to coal (coking and non coking) imports in the country and says the East Coast holds great promise for growth in dry bulk cargo volumes, particularly Andhra Pradesh’s largest industrial corridor Vishakhapatnam, Kakinada, Gangavaram besides Chennai, Tuticorin and Haldia.
A statement from managing partner and CEO of Emerald Maritime, Jitesh Jaipuriyar, said the company is poised to bring change in bulk segment and the diversification will be aimed for break-bulk and container segments to have a better control on the supply chain.
“As the industry consolidates smaller players can bring more ‘synergy’ through optimisation of costs and productivity to bring more benefit for the end users.
This change will certainly boost the industry landscape and bring about more yields in the sector,” he said.
As part of its growth strategy, Emerald Maritime has appointed former TATA Group senior VP, Capt. Dharinder Bhatia, to spearhead the East Coast operations.
The setting up of a new 3P steam coal import terminal at Vizag will also impact its import strategy considerably.
The company posted a turnover exceeding $30 million in the current financial year and expects to grow at least five times in terms of revenue in the next three to five years and plans to have offices in Singapore and Hong Kong in addition to its presence in India.
