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.

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.

08 Nov 2017
It is the second consecutive quarter that produced a negative performance for the top carrier.
02 Nov 2017
The upgrade began with an Oct. 26 call.
22 Aug 2017
Coastal cooperation with domestic peers could be a major driver of that liner turnaround.
29 May 2017
Earnings nosedived across all of the business segments on India's largest shipping line.
14 Feb 2017
The national carrier returned to profitability in the third fiscal quarter.
17 Nov 2016
State-owned Shipping Corporation of India swung to a net loss in the second fiscal quarter.
Shipping Corporation of India, a ship of which is pictured, and Shreyas Shipping and Logistics blamed weak demand and freight rates for their first-quarter peformances.
23 Aug 2016
Shipping Corporation of India and Shreyas Shipping and Logistics could not increase profits in the first fiscal quarter as they teamed up to corner coastal demand.
07 Jun 2016
Shipping Corporation of India has teamed up in a vessel-sharing arrangement with a domestic short-sea ship operator.
18 Mar 2016
DP World-operated Nhava Sheva (India) Gateway Terminal on Friday received a call from the 11,000 twenty-foot-equivalent unit MSC Francesca, the largest container ship ever to dock at Jawaharlal Nehru Port Trust, India’s biggest public container gateway.
18 Feb 2016
Mediterranean Shipping Co. rebranded its ISES service between India and Europe as “Himalaya Express” and replaced a call at Salalah, Oman with one at King Abdullah, Saudi Arabia, effective this month.
11 Feb 2016
Shipping Corporation of India almost doubled its third-fiscal quarter net profit as cost savings, driven by lower bunker fuel prices and a change in depreciation provision, more than offset sluggish global trade and a marginal decline in operating revenue.
23 Dec 2015
State-owned Shipping Corporation of India has added a second call at Pipavav Port to its intra-regional “SCI Middle East India Liner Express,” or SMILE, service, offering more importing and exporting coverage to shippers in the country’s west coast region.
16 Nov 2015
State-owned Shipping Corporation of India reported its net profit swelled more than eight-fold in the second fiscal quarter through the end of September, helped by lower operating costs, a new depreciation charge and higher bulk shipping income
13 Aug 2015
Despite significant losses by its container carrying division, a buoyant tanker market coupled with cost-cutting measures to help Shipping Corporation of India post a whopping 230 percent profit increase in the April-June period from a year earlier to Rs. 163.54 crore (approximately $25.5 million).
21 May 2015
Shipping Corporation of India swung to $31.5 million net profit in fiscal year 2014-15, which ended March 31, from a $43.2 million loss in the previous year, driven by continued cost-cutting and improved freight earnings that helped compensate for a marginal decline in operating revenue.
13 Feb 2015
Shipping Corporation of India swung to a Rs. 31.3 crore (about $5 million) net profit in its fiscal third quarter, which ended Dec. 31, from a $10.6 million loss in the same period of 2013, driven by cost savings and higher freight rates that helped offset a marginal decline in revenue.
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.
15 Nov 2013
Shipping Corporation of India swung to a $19.52 million loss in its second fiscal quarter of 2013-14 from a $47 million profit in the same period a year ago.
26 Aug 2013
Shipping Corporation of India has announced a general rate increase in its westbound trade from the Indian subcontinent to Europe, starting Sept. 1.
14 Aug 2013
Shipping Corporation of India reported its net loss in the first fiscal quarter, which ended June 30, widened to $16.2 million from $9 million a year earlier, as operating income and profit from disposal of ships declined sharply in a tight global shipping market.
19 Jul 2013
Major container lines have announced rate increases for several trade lanes, as detailed below, slated to take effect in August...
24 Jun 2013
State-owned Shipping Corp. of India plans to increase rates in its westbound trade from India to Europe and the Mediterranean, starting July 1.
29 May 2013
State-owned Shipping Corp. of India reported a net loss of $20.4 million in fiscal year 2012-13, improving from a net loss of $76.4 million in the previous fiscal year.
03 Apr 2013
The Indian government on Wednesday approved a proposal to liquidate Irano Hind Shipping Co., a joint venture between Shipping Corporation of India and Islamic Republic of Iran Shipping Lines, in the face of tightening U.S. and European Union sanctions against Tehran.
20 Mar 2013
Mediterranean Shipping Company and Shipping Corporaton of India are reorganizing the port rotation of their Indian Subcontinent-Europe Service, effective this month.
14 Feb 2013
Shipping Corporation of India swung to a $14 million loss in the third fiscal quarter of 2012-13 from a $13.86 million pr
11 Jan 2013
Shipping Corporation of India will implement a general rate increase on westbound cargo from India to Europe and the Medi
13 Aug 2012
State-owned Shipping Corporation of India said its first fiscal quarter net loss widened to $10 million from $1 million a year ago largely because of higher interest and operating expenses.
16 Jul 2012
Maersk Line will impose a general rate increase on westbound shipments from India to North Europe and the Mediterranean, starting Sept. 1.
31 May 2012
State-owned Shipping Corporation of India lost $78 million in fiscal 2011-12, which ended March 31, compared with a net profit of $103 million a year earlier.