Formed by a group of Master Mariners from the Indian Shipping fraternity and acquired its first product tanker named M.T. Seven Islands
2003
2004
Converted to a public limited company to avail of government incentives
Acquired its second oil product tanker named M.T. Blossom
2005
2006
Sold M.T. Seven Islands
Acquired M.T. Twinkle and M.T. Crystal
2007
2009
Acquired M.T. Lourdes
Acquired the company's first MR tanker M.T. Triumph, making an aggregate of five vessels with a total deadweight capacity of 66,889 metric tons
2010
2011
Acquired M.T. Orchids
Acquired M.T. Prudent and sold M.T. Twinkle
2012
2013
Sold M.T. Triumph
Acquired M.T. Victory, M.T. Oaktree and M.T. Delight. Sold M.T. Blossom
2014
2015
Acquired M.T. Agility and sold M.T. Crystal
Received private equity investment from Wayzata Investment Partners. Acquired two Suezmax tankers - M.T. Saffron and M.T. Crimson, taking the total fleet count to nine. More than doubled net profit.
2016
2017
Received 'CRISIL A-/Stable/CRISIL A2+' rating from CRISIL Ratings - a division of Standard and Poor's. Acquired product tankers M.T. Windsor and M.T. Meadows and VLCC tanker M.T.Lavails. Crossed INR 1 billion in net profit. In same year, credit outlook revised to CRISIL A-/Positive by CRISIL Ratings. Sold M.T. Prudent
Acquired M.T. Seagull.
2018
2019
Acquired M.T. Loyalty, M.T. Elegant, M.T. Harmony, M.T. Courage, M.T. Kestrel and M.T. Abalone. Sold M.T. Lourdes, M.T. Victory, M.T. Oaktree and M.T. Saffron. Received the award for “The Indian Shipping Company with the Highest Growth of Indian Flag Vessels” at the 55th National Maritime Day celebrations. Received private equity funding from FIH Mauritius Investments Ltd–an arm of Fairfax Financial Holdings–one of the largest investment companies in Canada.
Acquired M.T. Sparkle, M.T. Gallant, M.T. Pelican, M.T. Success, M.T. Coronet, M.T. Patriot, M.T. Feather, M.T. Dynasty & M.T. Resolve. Sold M.T. Meadows, M.T. Delight, M.T. Windsor & M.T. Orchids. The DWT capacity of the Company’s fleet crossed 1 million metric tons.
2020
2021
Acquired M.T. Blossom, M.T. Lourdes, M.T. Concord, M.T. Century, M.T. Classic and M.T. Babylon. Sold M.T. Agility, M.T. Crimson, M.T. Lavails, M.T. Resolve and M.T. Seagull. Received a long-term credit rating upgrade to CRISIL A+/Stable from CRISIL Ratings. Signed MoU with Directorate General of Shipping for commitment of INR 1500 crores towards fleet expansion, setting up a world-class maritime training institute in India and commitment to sponsor two graduates for education at the World Maritime University.
Acquired M.T. Harvest, LPG/c Pine Gas, LPG/c Rose Gas, M.T. Marvels and M.T. Fairway. Sold M.T. Elegant, M.T. Pelican and M.T. Harmony. Made an entry into the LPG carrier segment with acquisition of a VLGC and an MGC in quick succession. Won 4 of the top awards at the 8th Samudra Manthan Awards 2021.
2022
2023
Credit rating upgraded to CRISIL AA-/Stable