Shipping Corp. of India

Shipping Corp. of India

The Shipping Corporation of India is the largest Indian shipping company, established in 1961 through the merger of Eastern Shipping Corporation and Western Shipping Corporation. The Mumbai-based, state-owned company provides break-bulk services, international container services, liquid/dry bulk services, offshore services, and passenger services. The company owns and operates around one-third of the Indian tonnage, and serves both national and international trades.

The company recorded revenue of $744.5 million for fiscal year 2013-14, up 1 percent year-over-year. The company also recorded a net loss of $46.4 million, up from the previous year’s net loss of $19.3 million.

SCI operates 3 container shipping service routes and owns 5 container vessels. The Indian Subcontinent Europe service covers Mundra, Nhava Sheva, Colombo, Salalah, Gioia Tauro, Felixstowe, Hamburg, and Antwerp. The Far Eastern Services link India’s West Coast to China, South Korea, Hong Kong, Singapore, and Malaysia. The Middle East India Liner Express Service connects India and the Indian Subcontinent with the West Asia Gulf region.

13 Nov 2014
A significant turnaround in the liner segment coupled with tight cost controls helped state-owned Shipping Corporation of India report a modest net profit of Rs. 18.59 crore (about $3 million) in its second fiscal quarter, reversing a $20.13 million loss a year earlier.
15 Sep 2014
State-owned Shipping Corporation of India has announced the launch of a fortnightly direct container service connecting major ports in the Indian subcontinent with Myanmar, starting this month.
26 Aug 2014
CSAV has announced plans to introduce a new weekly service, the IMEX Sling 1, connecting the Indian subcontinent, the Middle East and North Europe, starting in late October.
15 Aug 2014
Shipping Corp. of India has denied that it is planning to shutter its liner division, but did say it was reviewing the segment’s performance and eyeing ways to increase its profitability.
12 Aug 2014
Shipping Corp. of India is considering withdrawing from the container business, which is loss making and subsidized by bulk and tankers, according to a report from Mint, an India-based financial news wire.
02 Jun 2014
Shipping Corp. of India reported a marginal net profit for the fourth quarter of fiscal year 2013-14, which ended March 31, 2014.