Vikesh Premnath Upadhyay | Varren Group
Did you know that over 90% of global trade depends on shipping? The maritime industry is a backbone of the global economy, connecting continents, cultures, and markets. With increasing demand for efficient and reliable shipping solutions, the need for innovative, high-standard maritime companies has never been greater.
The maritime industry demands skilled ship and crew management, robust technical support, and unwavering adherence to safety and regulatory standards. Founded in 2016, Varren Marines Shipping Pvt Ltd has established itself as a trusted leader in these areas. Under the guidance of Founder & CEO Vikesh Premnath Upadhyay and Co-Founder Premnath Upadhyay, this self-made, family-owned enterprise has grown from modest beginnings to become a reputable force in ship management, technical services, and ship chandler solutions.
A Man, a Dream, a Maritime Empire: Mr Vikesh Premnath Upadhyay
Behind every successful company stands a visionary leader, and Mr. Vikesh Premnath Upadhyay exemplifies this role. His journey, from humble beginnings to establishing a successful maritime company, is an inspiring story of resilience, dedication, and relentless pursuit of excellence. Recently, Varren Marines was awarded the prestigious Sagar Gaurav Puraskar 2024, a testament to its substantial contribution to the maritime industry.
Today, Varren Marines offers a full spectrum of services, including ship and crew management, brokerage, and technical support, backed by a skilled team and a trusted network of global seafarers. With a presence in India, Indonesia, Turkey, and Russia, the company continues to extend its reach and influence worldwide.
In our “Entrepreneurs of the Year 2024” edition, we feature Mr. Vikesh Premnath Upadhyay, Founder & CEO of Varren Marines Shipping Pvt Ltd. Join us as we delve into his story, uncover valuable insights, and draw lessons for aspiring entrepreneurs looking to make their mark in the industry.
Prime Insights: Tell us in brief about Varren Marine Shipping and tell us about your company’s journey and what you offer to market today.
Varren Marine Shipping Pvt Ltd, established in 2016, was founded with the vision of delivering comprehensive and dependable shipping solutions. We specialize in various key areas of the maritime sector, including ship management, crew management, technical management, and ship chandler services. Our global presence, with offices in India, Indonesia, Turkey, and Russia, enables us to deliver seamless and efficient support to clients around the world. Our commitment to quality and reliability has been central to our operations, ensuring we meet the diverse needs of the maritime industry on an international scale.
Prime Insights: How has the company’s journey been till now?
The journey of Varren Marine Shipping has been both transformative and rewarding. Since our inception, we have achieved remarkable growth—from managing a single vessel with limited crew services in 2016 to overseeing a fleet of 48 vessels with comprehensive crew and technical management solutions. This advancement stands as a testament to our commitment to operational excellence and client satisfaction, which remain the foundation of our success and continued expansion in the maritime industry.
Prime Insights: What was the first thought or compelling thought that inspired you to start this business, and why only in this field?
My initial ambition was to join the Merchant Navy and serve on-board, but limited opportunities and financial constraints led me to explore other industries, in various roles, from hospitality to data entry, like Cafe Coffee Day, McDonald’s, KFC, I have even worked in the Taj Hotel as a waiter, and Ocean Sparkle.
where I gained valuable experience and strong ethic across hospitality and retail. However, my passion for the maritime industry never waned. In 2016, I took a leap and founded Varren Marine Shipping, starting with a focus on crew management. Recognizing broader opportunities in the sector, we soon pivoted and acquired an RPSL license in 2019, enabling us to expand into comprehensive ship management and technical services.
This business began as a necessity rather than a vision, yet it has grown beyond expectation. Through dedication and resilience, Varren Marine Shipping has enabled me to make a meaningful contribution to the maritime industry—an achievement I take great pride in.
Prime Insights: How was your experience of it?
Starting my entrepreneurial journey at the age of 21, with only basic qualifications (10+2) & did a GP Rating Course, I initially lacked a deep understanding of the complexities of the business world. However, through experience, I have gained invaluable insights, with key lessons in patience, humility, and professionalism. These values have been essential in shaping my approach to leadership and have played a significant role in keeping me grounded and motivated as I continue to grow and expand the business.
Prime Insights: Can you highlight the challenges that you faced at the commencement of your journey? And what did you learn from the challenges?
At the outset of my entrepreneurial journey, one of the primary challenges I faced was people management, The second significant hurdle was the financial crisis—growing up in an extremely poor family, we often had to stretch one meal to last the entire day. Starting from a modest 50-square-foot office and with limited capital—just 300 rupees—I also encountered significant financial difficulties.
Additionally, learning to manage client relationships was another steep learning curve. However, through determination and perseverance, we have successfully built a strong management team, maintained long-term loyalty from employees who joined us in the early days, developed a solid client base, and achieved financial stability, all without relying on bank loans. Each of these challenges provided invaluable lessons, and overcoming them has been both professionally and personally fulfilling. Overcoming these challenges has been incredibly rewarding, and I’m grateful for the journey.
Prime Insights: Any few qualities you learned from the hardships you faced as an entrepreneur?
After: Through my experiences, I have come to value patience, client respect, and a firm commitment to ethics as essential qualities. Observing successful leaders and businesses has highlighted how a strong, ethics-based value proposition can set a brand apart. By integrating these insights into our strategy, we have built a foundation that differentiates Varren Marine Shipping and supports our long-term success.
Prime Insights: Tell me the dearest aspect of being an entrepreneur. How do you manage your stress and anxiety when faced with such issues or hardships?
One of the most rewarding aspects of being an entrepreneur is the ability to create and grow something meaningful. When faced with stress or challenges, I manage my anxiety by taking brief retreats to natural or spiritual locations. These moments of reflection help me reset and return with a clearer mindset, enabling me to approach obstacles with renewed focus and a more effective strategy.
Prime Insights: Could you tell me about the inspiration behind the origin of the company’s name? What is the significance and story behind it?
The journey to naming my company, Varren, was both an exciting and thoughtful process. In 2016, while returning from a vessel, I made the decision to start my own consultancy. At that time, I was quite young and unfamiliar with the legal compliance and operational steps involved in forming a company. After seeking advice, I learned that a private limited company would be the most suitable structure, and with the help of a local advocate, we began the process.
My father, Mr. Premnath Upadhyay, joined as one of the directors, and with a generous gesture from a friend who allowed us to use his address at a very nominal fee, we were able to move forward with the company formation.
The most challenging yet rewarding part of this journey was naming the company. I wanted the name to reflect our core values: transparency, trustworthiness, and progressiveness. After 45 days of brainstorming and research, I finally chose the name “Varren.” It is derived from a Latin word that combines these three core values, resonating with the vision I had for the company and aligning perfectly with the principles that guide us.
Prime Insights: What values and principles guide you in your personal and professional lives, and how do these values shape your leadership style or business decisions?
While I do not consider myself a perfect leader, I remain steadfast in my commitment to strong ethical principles that guide both my personal and professional life. I firmly believe in the importance of mutual respect—giving respect and earning it in return. Transparency and honesty are fundamental in all business interactions, whether with customers, employees, or other stakeholders. I ensure that our business practices are never manipulative but instead focus on building trust and fostering long-term relationships.
My leadership approach is grounded in problem-solving, continuous improvement, and a dedication to ethical conduct. Over time, my focus has evolved from solely pursuing profitability to creating value that drives positive change and contributes to the broader industry. This shift informs my decision-making, ensuring that every business decision aligns with our core values and is focused on sustainable growth, ethical practices, and enhancing the customer experience.
Prime Insights: What are your thoughts on success right now? How do you define success?
I view success as an ongoing journey rather than a fixed destination. While financial stability and professional achievements are important, true success lies in the ability to create a positive impact on the world. It means continuously striving for improvement, learning from past experiences, and embracing new challenges with a growth mindset. Success, to me, is about progress, not perfection.
Prime Insights: How do you keep your team motivated and inspired? How do you keep them productive and positive in the environment?
I believe in fostering a strong team culture built on mutual respect and trust. The success of our company is directly tied to the contributions of each team member. Without their dedication, fulfilling the company’s vision would not be possible.
Teamwork is essential to progress, and I am fortunate to rely on a trustworthy and collaborative team. I strive to motivate my team by not only offering financial growth but also by maintaining a positive, supportive work environment. We prioritize internal growth by considering team members for opportunities before seeking external candidates.
Creating a harmonious workplace where everyone feels valued is key to maintaining high morale and productivity. I prioritize cultural fit when hiring, ensuring new members align with our values and work style. By focusing on the well-being and comfort of my team, I believe we can build a sustainable and successful business.
Prime Insights: What advice would you give to entrepreneurs to build a strong team?
Although I don’t claim to be an authority on the matter, I’d like to offer my perspective on building a strong team. The key approach I follow is ensuring that my employees remain motivated and consistently feel respected and valued. When employees feel appreciated and empowered, they are more likely to take ownership and contribute to the success of the business.
It’s important for employees to see themselves as integral to the company’s growth, as though the business belongs to them. Once this mindset is cultivated, it becomes a win-win situation for both the company and its employees. I strongly recommend this approach to other entrepreneurs—it fosters engagement, drives productivity, and ultimately supports business growth.
Prime Insights: What kind of work culture have you fostered at Warren Maris, and how do you ensure that employees are happy?
At Varren Marine , we cultivate a professional, respectful, and transparent work culture with open communication. We prioritize creating an inclusive and collaborative environment where employees feel valued, motivated, and engaged, ensuring both their personal satisfaction and professional growth.
Prime Insights: What are the plans for Varren Marines?
The future vision for Varren Marines is to establish ourselves as a leading ship management company and one of the world’s top providers of maritime training institutes. We aim to continuously enhance our services, drive industry innovation, and contribute to the growth of the maritime sector globally.
Prime Insights: And any final advice for aspiring entrepreneurs starting right now?
My advice for aspiring entrepreneurs is simple: Have patience and trust in yourself. It’s crucial to have confidence in your abilities before starting a business. While employees and partners may join you on your journey, the responsibility to lead and drive success rests with you. Stay focused, and don’t let external doubts or challenges shake your belief in your vision. Success comes with time, effort, and unwavering self-belief.
