Emerald Maritime LLC, a Dubai based fast track dry bulk cargo movement enterprise, plans to grow its bulk cargo export-import market share in India.
Currently, Emerald has more than 50 percent of the annual business portfolio dedicated to import of coal in India.
Capt. Jitesh Jaipuriyar, Chief Operating Officer of Emerald Maritime, in a statement released here Thursday, said his company has intensified its focus in India.
The 18-month old company which crossed turnover of USD 30 million during the current financial year, expects to grow at least five times in three to five years. It plans to have offices in Singapore and Hong Kong in addition to strengthening its presence in India.
The company appointed Capt. Dharinder Bhatia, a former senior executive of Tata Group based in Chennai, to spearhead operations in India.
Emerald is also evaluating prospects of expanding and diversifying its portfolio in India inorganically.
"While Emerald is poised to bring change in bulk segment, the diversification would be aimed for break-bulk and container segments to have a better control on the supply chain," said Jitesh.
East coast of India holds great promise for Emerald's growth especially Andhra Pradesh's largest industrial corridor Vishakhapatnam, Kakinada and Gangavaram. Chennai, Tuticorin, Haldia are also rising dry bulk cargo volumes.