The Parliamentary standing committee on transport, tourism and culture will suggest the union shipping ministry to extend the proposed National Waterways No 3 beyond Kottapuram to the historic site of Muziris to benefit tourists. This is part of a slew of recommendations that the committee plans to make to the ministry. The com
Tag: Shipping Corporation of India
Post
Post
Govt may take back navaratna tag from SCI
With the Shipping Corporation of India (SCI) announcing loss for two consecutive years, it may lose the coveted navaratna status, which is given to only profit-making state-run companies. It may be noted that the loss of the firm stood at Rs 428.2 and Rs 114.3 crore in 2011-12 and 2012-13 respectively
Post
Union wants SCI to use Vallarpadam for transshipment
Shipping Corporation of India (SCI) was asked to use the Vallarpadam port for transshipment of cargo instead of its current practice of using Colombo port. The Joint Forum of Trade Unions in Kochi Port submitted a memorandum to the Parliamentary Standing Committee on Transport, which visited the city recently
Post
SCI takes delivery of Kamsarmax carrier
A Chinese ship builder has reportedly delivered the second of the four Kamsarmax Bulk carrier ordered by Shipping Corporation of India (SCI) to replace its existing Daewoo series Handymax bulk carriers. Daewoo series Handymax bulk carriers of SCI were built in 1986 and 1987. It may be noted that SCI has so far been operating the small-sized Handymax and Handysize bulk carriers and now it wants to use Kamsarmax bulk carri
Post
House panel asks SCI to review fleet plan
The Parliamentary Standing Committee on Transport, Tourism and Culture asked the state-run Shipping Corporation of India (SCI) to review its fleet acquisition orders already placed. SCI decided to acquire 62 vessels based on the resources available for such a huge procurement rather than based on need, the committee said. The committee feels that SCI's fleet acquisition order may lead the firm into financial trouble like Air India. While the company intended to buy 62 vessels during the
Post
SCI can take possession of 7 vessels of erstwhile JV
Sources from the union shipping ministry informed that the discontinuation of the joint venture between Shipping Corporation of India (SCI) and Irano Hind Shipping Company would add seven ships to the former's fleet. SCI will get the seven vessels as it agreed to repay the loans of the joint venture. It is learnt that the joint ventu
Post
SCI to foray into dredging operation
Shipping Corporation of India (SCI) is taking efforts to diversify its operation into allied areas in order to mitigate losses on the back of slowdown in the global shipping industry. The company, which is suffering losses from its mainstream business, plans to diversify into dredging operation
Post
SCI plans to invest Rs 19 bn in FY14
Shipping Corporation of India (SCI) plans to spend
Rs 1,939 crore during 2013-14, far less than Rs 2,497 crore spent in 2012-13, Union budget documents shows. The investment would be financed through internal and extra budgetary resources. Sunil Thapar, director-bulk and tanker division, SCI said the company wants to cons
Post
Industry welcomes removal of duty
Anil Devli, Chief Executive Officer of Indian National Ship Owners Association informed that the removal of excise and countervailing duty (CVD) is a big boost to the shipbuilders. He said the move would see more ships being built in India now. The Rs 300-crore subsidy will increase the cash flow, Dhananjay Datar, group Chief Financial officer, ABG Shipyard, said
Post
Container throughput at Amingaon ICD may remain flat
The Amingaon inland container depot (ICD) in Guwahati may handle around the same number of containers in 2012-13 as last year, reports suggest. The ICD handled 2,600 twenty foot equivalent unit (TEUs) totaling 40 rakes in 2011-12. So far in 2012-13, the