The minister also confirmed that the state-owned Shipping Corp. of India is working with oil PSUs to aggregate demand for 112 vessels and form a joint venture for long-term fleet augmentation, an initiative that could save India up to $75 billion in foreign exchange annually paid to foreign shipping lines. In a major boost to...
Tag: Shipping Corporation of India
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India Anchors $8 Billion Maritime Investment Wave
Bhavnagar event sees MoUs signed for new ports, shipbuilding clusters, green transport, and financing partnerships. India’s maritime sector is poised for a transformative leap, with potential investments totalling ₹660 billion ($7.9 billion) inked at the recent ‘Samudra Se Samriddhi: Transforming India’s Maritime Sector’ event held on September 18 and 19 in Bhavnagar, Gujarat. According to...
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SCI vessel to make first Iranian call since 2012
A Shipping Corporation of India (SCI) vessel will call at Iran in December after a four-year gap because of sanctions. It will deploy a suezmax for state-refiner Hindustan Petroleum Corp. Other Indian refiners including Bharat Petroleum Corp and Mangalore Refinery and Petrochemicals have also signed deals for Iranian oil.
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SCI adds 2 ports to Smile service
Shipping Corporation of India (SCI) has enhanced its presence on the Indian coast by adding Kattupalli port in Tamil Nadu and Visakhapatnam port in Andhra Pradesh
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Shipping Corp Q4 profit jumps to Rs.102 cr
Shipping Corporation of India (SCI) has reported more than seven-fold jump in net profit at Rs 101.49 crore for the quarter on gains from sale of ships.
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Solely responsible
Capt. Anoop Kumar Sharma has taken over as the Whole Time Director & CEO of Essar Shipping Limited (ESL). He has taken over from Ramakrishnan AR, Managing Director, ESL subsequent to his retirement on 31 March 2015.
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SCI to buy LPG vessels
The Shipping Corporation of India (SCI), which is returning to profits after three consecutive years of losses, is reviving its ship acquisition plans, though in a small way.
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SCI eyes inland waterways business
The Shipping Corporation of India (SCI) is also evaluating prospects of entering inland waterways as the bulk cargo movement beginning through inland waterways from Haldia again after decades. SCI sources said that it is evaluating and keeping a close watch on the business prospects of inland waterways.
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Petronet hires 4th LNG ship from Japan shipping firms
India's largest buyer of liquid gas Petronet LNG Ltd has hired a fourth LNG ship from a consortium of State-owned Shipping Corporation of India (SCI) and Japanese lines for $75,000-$80,000 per day.
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Freight rates hiked in SCI’s European sector
Government-owned Shipping Corporation of India (SCI) on November 20 announced a freight rate hike of up to $500 for 40-feet containers on the India-Europe sector. SCI is facing pressures on account of fuel price hike, the rupee movement and reduction in traffic due to which it is proposing the hikes to make operations feasible, said SCI.