Seaways Plans to Add Six Container Ships

Monday, November 12, 2007
Seaways Shipping Ltd, a Hyderabad-based maritime company, proposes to double its turnover to about Rs. 1,200 crore by the end of next fiscal (2008-09) by infusing funds through a Rs. 200-crore private equity (PE) and Rs. 500 crore of initial public offering (IPO). While the company has almost zeroed in on a single private equity investor to pump in the funds before the end of the current financial year, it plans to raise the IPO during 2008-09. P. V. K. Mohan, Chairman and Managing Director, reportedly said he planned to add six more container ships on the West Coast of India. Apart from adding container ships, the company planned to establish container freight stations at seaports and also in hinterland, increase freight forwarding services through air and sea, and add more containers. The company entered into a joint venture with a $5.2b German company, Rhenus, which had 200 warehouses in Europe, to share them, as multinational companies would need third party logistic support. [Source: http://www.hinduonnet.com]

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Baltic Dry Bulk Index Dips on Weak Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments.

Tanker Departs Libya Empty amid Political Crisis

A tanker that an oil company set up by Libya's eastern government prevented from loading has left the eastern port of Marsa el-Hariga, a port official said on Wednesday.

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

Container Ships

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

Container Market - Between a Rock and a Hard Place

The pain of the current container market downturn extends beyond carriers, says Drewry's Container Insight Weekly.    Some independent ship-owners are faced

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0687 sec (15 req/sec)