SCI Revives India-Europe Service with MSC

The Shipping Corporation of India will revive a vessel sharing agreement for India-Europe service that fell apart as a result of the downturn in trade volumes.

"We are continuing our European service with Mediterranean Shipping Company after our old partners withdrew," SCI Director J N Das told the Press Trust of India.

SCI signed the agreement with MSC on May 17 after the withdrawal of its partners in the old VSA, Zim Integrated Shipping Services, Yang-Ming, MISC and “K” Line.

SCI has deployed four vessels in the revived VSA to Europe and MSC has deployed three.

The 49-day roundtrip rotation of the service is: Jawaharlal Nehru Port, Mundra, Salalah, Barcelona, Hamburg, Rotterdam, Jeddah, Colombo and back to Jawaharlal Nehru Port.

According to estimates the growth of container volumes in 2008-2009 was 3.5 per cent, compared to 10 per cent in 2007-08.

Freight rates to Europe have fallen from $1,400 six months ago to $250 per container at present. The rate on shipments from India to Dubai has crashed from $500 per container to $50.

Contact Peter T. Leach at pleach@joc.com.