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Binny Shipping flag

Aug 14, 2017

[Flag of the British Virgin Islands] 

Binny Shipping Ltd and Binny Ship Management Ltd at Tortola (British Virgin Islands) are two companies active – as the names state – in different sectors of shipping both however being concerned with dry bulk. 
Management includes the few ships operated by the shipping division while in the past, important Indian companies such as Scindia were customer.
The shipping division, founded in 1988, currently has two vessels sailing under the Panamanian flag; further expansion is planned.
Report on the temporary seizure (luckily resolved) of ‘Nirmal Bhushan’ in Iraq 
Shown as a drawing on the site, the house flag is dark blue having a rather small black disk in the centre, bearing a red initial ‘B’.

Binny Ship Management Pvt. Ltd. is shown by Lloyds as based Mumbai, India and was started in 1988 by V.B. Verma as a ship management company becoming a ship owner in 1995. I know the website stresses the British Virgin Island connection but this seems to be a case of subsidiaries being based in a more favourable tax resort, with their ships being registered in Panama. The flag home probably thus originates from India.