Shipping Corporation of India

Summary

The Shipping Corporation of India (SCI) is a government corporation that operates and manages vessels servicing both national and international lines. It is under the ownership of Ministry of Shipping, Government of India, with its headquarters in Mumbai.[5]

Shipping Corporation of India
BSE: 523598
NSE: SCI
TypeGovernment Corporation
IndustryShipping
FoundedMumbai, 2 October 1961 (1961-10-02)
HeadquartersMumbai
Key people
Mrs. Harjeet Kaur Joshi
(Chairwoman & MD)
RevenueIncrease4,425.44 crore (US$580 million) (2020)[1]
Increase711.64 crore (US$93 million) (2020)[1]
Increase302.35 crore (US$40 million) (2020)[1]
Total assetsDecrease13,733.12 crore (US$1.8 billion) (2020)[1]
Total equityIncrease7,298.18 crore (US$960 million) (2020)[1]
OwnerGovernment of India (63.75%) [2][3]
Number of employees
675 (July 2019)[4]
ParentMinistry of Shipping, Government of India
Websiteshipindia.com

HistoryEdit

 
SCI Head Office at Nariman Point Mumbai

SCI was established on 2 October 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Two more shipping companies, Jayanti Shipping Company and Mogul Lines Limited, were merged with SCI in 1973 and 1986 respectively.[6]

SCI started out with 19 vessels. It gradually metamorphosed into a conglomerate having 80 ships of 59 lakh (5.9 million) tonnes deadweight (DWT) with interests in different segments of the shipping trade.

On 21 November 2019, the Government of India approved the privatisation of SCI.[7] In 2022, the privatisation was delayed by the Russo-Ukraine war.[8]

ServicesEdit

  • Cruise liner and Passenger services
  • Bulk carrier and tanker services
  • Offshore services

Major clientsEdit

See alsoEdit

ReferencesEdit

  1. ^ a b c d e "Balance Sheet 31.03.2020".
  2. ^ "Latest Shareholding Pattern - Shipping Corporation of India Ltd". trendlyne.com. Retrieved 29 July 2020.
  3. ^ Paris, Costas (10 March 2021). "India's Top Shipping Company Set to Kick Off Privatization Push" – via www.wsj.com.
  4. ^ shipindia.com/upload/investorsubpage/69thAnnualReport2018-2019_On_website.pdf
  5. ^ [1] Archived 10 December 2008 at the Wayback Machine
  6. ^ [2] Archived 15 December 2009 at the Wayback Machine
  7. ^ Arup Roychoudhury. "Privatisation push: Cabinet approves strategic sale of BPCL, 4 other PSUs | Business Standard News". Business Standard. Retrieved 13 May 2020.
  8. ^ Saxena, Ragini; Amin, Haslinda; Salamat, Rishaad (8 March 2022). "Ukraine war a roadblock for SCI privatisation". The Economic Times. Retrieved 7 May 2022.