OREANDA-NEWS. Singapore Government's Maritime Port Authority(MPA) Awards Tata Power's Trust Energy Resources Pte Ltd the status of AIS (Approved International Shipping Co)

AIS Award grants the company 0% tax for Shipping Operations, and incentives.

Reinforces Company’s logistics and freight management skills

Singapore Minister for Transport, Mr Lui Tuck Yew, conferred the prestigious Approved International Shipping (AIS) award to Trust Energy Resources Pte Ltd, the 100% subsidiary of Tata Power based in Singapore, at the Singapore International Maritime Awards - 2013 on 11th April 2013. Trust Energy Resources Pte Ltd (Trust Energy) operates a fleet of 5 Cape Vessels, own and chartered through Energy Eastern Pte Ltd ( A Coastal Gujarat Power Ltd subsidiary) and provides dedicated freight solutions to 4000 MW Mundra UMPP. It owns two Korean built cape vessels - Trust Agility and Trust Integrity. It has built competencies in optimising the shipping costs, with its multi cultural team in Singapore, and provides Mundra UMPP with both long term and spot freight solutions.

The Singapore Government's International Maritime Program is a package of financial and other incentives aimed at facilitating the growth of operations anchored in Singapore. With this Award and special status, Trust Energy and Energy Eastern have entered the league of established international shipping companies.

Speaking at the event, Mr. K.V. Rao, Managing Director of Trust Energy said, "Singapore is a natural fit for our fuel supply chain, and it has helped us to quickly leverage the skills, networks, and critical capabilities in Singapore to build a compelling value proposition to Tata Power's imported coal supply chain for Mundra. The enabling environment of Singapore Government and support services made it easier for us to establish it with great speed. We look forward to further growth and expansion in the future"

Mr. Anil Sardana, Managing Director, Tata Power, said, "The conscious strategy of integrating the entire supply chain from coal mines to in house shipping and operations, has provided Tata Power the edge to build a sustainable competitive advantage that is so essential to deliver long term value, and offer power most competitively in India. This award is a significant milestone, and a testament to our strategy of integrated play. We thank all the stakeholders who have supported us in this journey."

Tata Power is poised to grow to 26 GW in generation and 4 GW in Distribution by 2020, and would require 50 MTPA of energy resources. The Singapore operations of Tata Power are a significant part of this strategic intent and are gearing up for this growth. Trust Energy has a vision of building world-class dry bulk shipping company capabilities with global standards in its operations, while being focussed on Tata Power growth needs.