A brief history of Foresight Group’s achievements
Foresight Group prides itself on its rich and strong global network and expertise in International Shipping, Offshore Drilling, Project Management and the ability to incubate and develop new diversified verticals in emerging markets of the world.
The Group has a strong culture of professionalism and talent development. Over the years it’s the discipline and emphasis on meritocracy in the management team of the group that has enabled the organisation to persevere on its mission with monomaniacal focus on Excellence, Foresight & Quality (EFQ).
World Famous oil Tanker Shuttle Service during Iran/Iraq War in the gulf.
Purchase of first multipurpose tweendecker Amer Kanti.
First trading contract of sulphur with Govt. of India Trading Company.
First purchase of VLCC Tanker M.V. Trade Reliance to use in the Shuttle Tanker Service.
Purchase of first Bulk Carrier.
Drilling business started with its first Jack-up rig FD-I (300ft).
Drill Ship FD-II with DP capabilities.
Group built its own two new large (half million cubic feet each) Reefer vessels in Japan, Amer Fuji and Himalaya at Shin Kurushima shipyard in Japan.
Purchase of the third Jack-up rig FDV, niche shallow water rig, which is still in operation.
The Group's first Bond issue of USD $100 million for 10 years to expand its reefer ship fleet which expanded to nearly 8 million cubic feet comprising of ten ships.
Strategic investment in footwear component & materials manufacturing in India with collaboration with Rhenfolex GMBH- Germany
After a collapse in the Shipping Market the Group successfully completed restructuring and redemption of American bonds and retained the reefer fleet within 100% ownership of the Group.
Group acquired two German built 2100 TEU container ships.
The Group acquired two Aframax Tankers MT Bareilly and MT Kanpur (built in 2005) – and chartered to Glencore for five years. These are still operating under group ownership.
Group profitably sold both of its container ships to German KG Company.
Purchase of fourth second hand Jack-up Rig FDIX (350ft).
The Group achieved a timely profitable sale of all its reefer ships just ahead of the market financial crash.
Joint Venture with Pavers Limited of UK to enter Branded Retail in emerging markets; Developing the 'Pavers England’ our own brand and was 1st to get Foreign Direct Investment approval for Retail in India during 2012.
Full refurbishment and renewal of FDIX completed.
Purchase of fifth Jack-up Rig FDIII (300ft)
Expansion of Drilling Division with order of three new Jack-up rigs at an investment of USD $600 Million.
Vivekanand 1 and Vivekanand 2, on the same day and transporting to India and commence operations with ONGC in India. (October 2016)
Offshore drilling business is consolidated into Foresight Offshore Drilling LTD S.A. with a fleet of 6 own jack up rigs & 3 committed on bare boat charter, the division is focused for rapid expansion and aim to operate 10+ rigs by 2020.
Third New Build Jack-up Rig expected to be delivered u/c at Cosco Dalian.
Purchase of New VLCC, The tanker Front Circassia (renamed as MT. AGRA)
Project team to develop onshore drilling operational base in UAE.
The aim is to acquire 6 more bulk carriers /tankers.