Tulshyan Group of Singapore, which has proceeded quietly in building up its fleet with commercial and offshore vessels, intends to continue growing.

Chairman and founder Rakesh Tulshyan, who describes the group as a conservative player with low leverage, told TradeWinds: “We definitely have plans to increase [the fleet] but we haven’t put a dollar figure on it.”

A citizen of Singapore, Tulshyan has become a major shipowner since his return to the industry four years ago.