ESSARSHIP

Essar Shipping Ports & Logistics Limited has informed the Exchange that the Company has taken delivery of a 1982 Japan built, 136,600 DWT Capesize Dry Bulk Carrier.

Essar Shipping Ports & Logistics Limited has informed the Exchange that the Company has on February 23, 2011 taken delivery of a 1990 Japan built, 151,418 dwt Capesize Dry Bulk Carrier.

Essar Shipping Ports & Logistics Limited has informed the Exchange that the Company has on February 10, 2011 entered into a Memorandum of Understanding with the Port of Antwerp International for Strategic collaboration in the areas of Consultancy, Investment, Training and enhancing Commercial Relations in the fast growing port sector in India and abroad.

Essar Shipping Ports & Logistics Limited has submitted to the Exchange a copy of Synopsis of the results of the Court Convened Meeting of the equity Shareholders, Secured Creditors (including holders of Non-convertible Debentures) and Unsecured Creditors meeting of Essar Shipping Ports & Logistics Limited.

Essar Shipping Ports & Logistics Limited has informed the Exchange that the application (for Composite Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956 amongst Essar Shipping Ports & Logistics Limited, Essar Ports & Terminals Limited, Mauritius, Essar International Limited, Essar Shipping Limited and their respective shareholders and creditors) has been filed with the Hon'ble High Court of Gujarat at Ahmedabad and the Court has directed convening of the meetings of the equity shareholders, secured creditors and un-secured creditors on November 30, 2010.

Essar Shipping Ports & Logistics Limited has informed the Exchange that Essar Bulk Terminal Limited (EBTL) (a subsidiary) has commenced Commercial Operations of its all weather deep draft dry bulk port facility at Hazira, Gujarat. This berth has a capacity to handle cargoes upto 30 million tons per annum.

Essar Shipping Ports & Logistics Limited has informed the Exchange that Essar Oilfields Services Limited (EOSL) (a wholly owned subsidiary) has been awarded its first contract outside India valued at approximately US$ 40 million by Vietsovpetro JV (VSP), an E&P company operating in Vietnam, for drilling a 4800 meter offshore well with EOSL's Semi-Submersible Rig "Essar Wildcat".

Essar Shipping Ports & Logistics Limited has informed the Exchange that the Company has received a letter dated March 31, 2010 from Shri Ravi Ruia tendering his resignation from the Board of Directors of the Company with immediate effect due to other commitments. Further the company has informed that the same will be placed before the Board at its next Meeting.

Essar Shipping Ports & Logistics Limited has informed the Exchange that Vadinar Ports & Terminals Limited (a wholly owned subsidiary of Essar Shipping Ports & Logistics Limited) has commissioned a Product Berth at Vadinar in Gujarat with an evacuation capacity of 7 million metric tons per annum (MMTPA). With the above commissioning, the total capacity of the terminalling facilities at Vadinar has gone up from 41 MMTPA to 48 MMTPA.