Seven Islands Shipping Limited has recently acquired three second-hand medium range oil tankers for an undisclosed amount. As per reports, two tankers were delivered a few days ago and the third tanker is expected to be delivered in the next few days. Currently, the company owns a fleet of 27 vessels comprising 2 crude oil tankers, 23 product carriers and 2 gas carriers. Earlier, Fairfax India had acquired a 41.4 per cent stake in Seven Islands Shipping for $71.8 million through a direct subscription of $28.9 million and a secondary acquisition from existing shareholders of $42.9 million in March 2019. Further, in September and October 2019, Fairfax India acquired an additional 7.1 per cent stake from existing shareholders for $12.1 million, increasing its stake in Seven Islands Shipping to 48.5 per cent.