âTwo of our practical size vessels Tvisha and Tuhina weighing 13,000 DWT, have been engaged in rice exports from India to Bangladesh in accordance with the recent bilateral trade agreement signed between the two neighboring countries,â a statement said. ‘Essar Shipping.
The company is part of the services and technology portfolio of Essar Global Fund Ltd.
Essar Shipping CEO Ranjit Singh said that new export agreements are expected to be signed with neighboring countries in the coming months, the company’s vessels will also be engaged in continued trade in this region.
“With the five-year pulse import agreement between India and Myanmar, we have entered into a shipping contract for these vessels which is to begin operations from July 20,” he said. .
These two vessels (Tvisha and Tuhina) have been continuously employed in back-to-back activities to export rice since March 2021. India saw an increase in agricultural exports in 2020-21.
The surge was fueled by record sales of rice – 13.9 million tonnes of non-basmati and 4.6 million tonnes of basmati – and sales of 2.08 million tonnes of wheat, a six-year record. , according to the press release.
In fact, the growing demand for rice overseas should be a big win for exporters of the product in India, he said.
Bangladesh, the world’s third largest rice producer with a production of nearly 35 million tonnes per year, occasionally relies on imports to cope with shortages caused by natural disasters such as floods or drought.
Essar Shipping is India’s second largest private sector shipping company with the country’s youngest fleet with a combined deadweight tonnage (DWT) of 1.12 million.
The company also operates an oil and gas drilling business that provides contract drilling services to oil and gas companies around the world. This company has a fleet of land and offshore platforms.