Shipping Corporation Of India News

In the 2019 first half, 106,000 TEU - 20-ft standard containers - were handled in Hamburg on direct services with Indian ports, a gain of 17 percent. This brought India up into tenth place in Hamburg’s ranking of its trading partners for container transport.With Hapag Lloyd and its partner shipowners ONE, YML and COSCO offering an additional weekly sailing from Hamburg on the IEX - South-East India–Europe Express service from November onwards, the prospects for further growth are good.Ten liner services link the Port of Hamburg with India. Of these, four are container liner services, three are Ro-Ro services transporting vehicles, and three are general cargo services…

Indian Register of Shipping (IRClass) has secured a five-year contract from India’s largest shipping company, The Shipping Corporation of India (SCI) – to undertake Emergency Response Service (ERS) for 33 vessels.The classification society’s ERS is aimed at providing round-the-clock technical support by way of speedy assessment of the intact/damage stability as well as longitudinal strength of any vessel involved in a major incident e.g. grounding, collision or fire. Issues potentially arising from such incidents include excessive trim/heel…

The ship classification society, Indian Register of Shipping (IRClass) has secured a five-year contract from India’s largest shipping company, The Shipping Corporation of India (SCI) – to undertake Emergency Response Service (ERS) for 33 vessels.The classification society’s ERS is aimed at providing round-the-clock technical support by way of speedy assessment of the intact/damage stability as well as longitudinal strength of any vessel involved in a major incident e.g. grounding, collision or fire. Issues potentially arising from such incidents include excessive trim/heel, loss of stability, progressive flooding, structural impairment…

A Shipping Corporation of India very large crude carrier (VLCC) has suffered an explosion in one of its cargo tanks while transiting off the coast of Oman, the shipowner confirmed Tuesday.Three crew members of the 316,409 DWT oil tanker Desh Vaibhav are reported missing, and one person with burn injuries has been evacuated by helicopter, according to a press release issued by the shipowner.The 2005-built Desh Vaibhav was sailing toward Fujairah, UAE when the blast occurred around 9:35 a.m. IST, the shipowner said. The resulting fire has reportedly subsided.A firefighting vessel was said to be on its way to the scene, and the shipowner said it was also seeking assistance from the Oman Royal Navy and nearby ships.

ABB said it has signed a contract with India’s largest shipbuilding and maintenance facility, Cochin Shipyard Ltd, to deliver a first-ever integrated power and automation package to an Indian shipowner.ABB’s contract with Cochin Shipyard covers two new 1,200-passenger ferries, to be delivered to the Andaman & Nicobar Administration in 2020. In what’s said to be a first for a shipowner in India, these vessels will benefit from a full integration of their power generation, distribution and propulsion systems…

Government of India-controlled Cochin Shipyard Ltd is constructing four passenger-cum – cargo vessels for Andaman & Nicobar Administration under the ‘Make in India’ initiative of Government of India. As per orders placed by the A&N Administration, two of these vessels will have a capacity of 500 persons-cum-150 tonne cargo and the remaining two will have a capacity of 1200 persons-cum-1000 tonne cargo. These vessels will have state of the art facilities for passengers and comply with latest international/national rules and regulations. They will be fitted with diesel electric propulsion plants driving two azimuth thrusters for good manoeuvrability.

The Shipping Corporation of India Ltd (SCI) has reported a net profit of Rs.7.25 crores for the financial quarter ended 31st December 2016 (Q3 FY16-17) as compared to a loss of Rs. 20 crores reported during the quarter ended 30th September 2016 (Q2 FY16-17). With this, SCI’s net profit for the nine month period ended 31st December 2016 has increased to Rs. 43.16 crores.   Increase in the Operating Income of the company during Q3 FY16-2017 is mainly attributed to the increase in tanker freights. Increased revenue in the offshore and liner segments of SCI has further added to the profitability

A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT “PRACHI” having a capacity of 173,000 m3, from Hyundai Heavy Industries Co. Ltd. South Korea on 30th November, 2016. Simultaneously, the vessel has been delivered to Petronet LNG Ltd, New Delhi India’s first importer of LNG on a 19 year charter. Since 2004, Petronet has imported 5 million tons of LNG a year from Qatar, and an additional 2.5 million tons per year since 2009, using three LNG carriers.

A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new liquefied natural fas (LNG) carrier on November 30, 2016, in South Korea. The vessel, Prachi, has a capacity of 173,000 m3 and was built to order by Hyundai Heavy Industries Co. Ltd. based on a long-term time charter contract with Petronet LNG Limited (PLL). A naming ceremony for the ship was held on October 18, 2016.

The Master of an oil tanker who says she was “just doing her job” has received the highest International Maritime Organization (IMO)  bravery recognition for saving the lives of seven fishermen from a sinking fishing boat during a tumultuous storm in the Bay of Bengal in June 2015. “It is every seafarer’s and Master’s solemn duty and obligation to save souls in distress at sea. I just did what a seafarer should do for a fellow soul in distress at sea. Yes, it was an instant decision, but not without assessing the risks involved. I just did my duty,” said Captain Radhika Menon, Master of the oil products tanker Sampurna Swarajya. She was speaking after IMO Secretary-General Kitack Lim presented her with the 2016 IMO Award for Exceptional Bravery at Sea on Monday (21 November)…

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a secondhand Multipurpose Support Vessel (MPSV) M.V. “SCI Sabarmati” today i.e. 18th November, 2016 at Singapore. This vessel is 2013 built, at Colombo Dockyard Ltd., and had lately carried out necessary modification to serve as MPSV. The vessel is SPS compliant and can be dynamically positioned (DP-2), having a gross tonnage of 3,306 Metric Tonnes and deadweight of 3,352.31 Metric tonnes. The vessel is dual classed with LR and IRS and has been built to comply with latest international regulations. With this strategic acquisition as part of Capex 2016-17, SCI’s Offshore fleet has increased to 10 vessels and SCI’s fleet strength has increased to 69 vessels of 5.85 million DWT

The Shipping Corporation of India Ltd. (SCI) has taken over the Technical Consultancy of MV “Andaman”, a 35 Ton Bollard Pull Tug owned by M/s. ALHW (Andaman Lakshadweep Harbour Works) Port Blair, an organization under the aegis of Ministry of Shipping. M/s. ALHW has accepted the delivery of MV “Andaman” on 9th November, 2016 at Port Blair. MV “Andaman” has been constructed under the supervision of the SCI complying with the latest applicable regulations. It is the first of the series of the two 35 Ton BP Tugs ordered by ALHW in May 2015 and built at M/s. Tebma Shipyards Limited. pride to be a part of this prestigious project completed within the Contractual time frame.

The INS Viraat is on the last journey and the ship is being towed back by three tugs to Mumbai for the decommissioning. SCI Mukta, an Anchor Handling & Towing Vessel (AHTS) of the National Flagship Carrier i.e. The Shipping Corporation of India Ltd., has commenced towing the aircraft carrier; INS Viraat at 0700 hrs on 23rd October 2016 from Cochin to Mumbai. It will be decommissioned at Mumbai and its expected date of arrival at Mumbai on 29th October 2016. INS Viraat is the oldest aircraft carrier in the world has completed the decommissioning refit in Cochin Shipyard on 04th September 2016. The ship arrived Cochin in last July for Essential Repairs and Dry Docking (ERDD) prior to the decommissioning.

The Government of India will consider giving shipping the status of Infrastructure in the country and all efforts would be made to improve it’s productivity, says Minister of State for Shipping, Road Transport and Highways, Chemicals & Fertilizers, Mansukh Lal Mandaviya. He was reviewing the activities of Shipping Corporation of India in Mumbai today. The Minister was briefed by the senior officers of the Shipping Corporation of India about the recent business initiatives like formation of Inland Waterways, subsidiary to undertake transportation on NW-1, NW-2 & NW-5 and increasing coastal presence by providing weekly services on west & east coast of India.

India's largest shipping company  Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business climate remains grim for the industry across globe mainly because of availability of low-priced assets in the market, reports Business Standard. SCI Chairman and Managing Director B B Sinha said that the demand situation is pathetic and so it is the right time to buy assets. "We have a capex plan of Rs 900 crore for 2016-17. We have invested some money already and negotiations are on to buy a few more vessels," he said. The state-owned company has recently purchased one offshore vessel and negotiations are on for another tanker.

India's biggest shipping company Shipping Corporation of India (SCI) will resume sailing to Iran this month after a hiatus of about four years, reports Reuters. The company says it will accordingly use one of its Suezmax-sized tankers to ship an oil cargo for state-refiner Hindustan Petroleum Corp Ltd (HPCL) from Iran. "It is not yet decided ... which SCI-owned vessel is going to Iran," said SCI Chairman B.B. Sinha. SCI stopped sailing to Iran in 2012 when sanctions targeting Iran's nuclear programme prevented the company obtaining insurance cover for oil and other shipments. SCI had contracts with HPCL, Bharat Petroleum Corp (BPCL) and Mangalore Refinery and Petrochemicals Ltd to ship crude from Iran, he said.

The new restructured SMILE Service synergizes Shipping Corporation of India’s (SCI) Services with Shreyas’s Services and seamlessly links up Persian Gulf with East Coast of India and West Coast of India, thereby, further strengthening and expanding SCI’s presence in the Coastal Shipping Sector. The working together of two Lines, i.e., The SCI and Shreyas, on this route will be a force multiplier for SCI which will provide a high quality of Coastal Services on fixed day fixed window and will set the agenda, for SCI, for even bigger expansion in Coastal and near Coastal trades with special emphasis on the East Coast of India ports. With a view to optimize and in order to maintain the SMILE Service’s quality and operational efficiency…

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs.200.93 Crores in the previous year. Despite providing for an impairment loss of Rs. 136.38 Crores SCI has posted an impressive profit of Rs. 377.29 Crores The overall financial performance of the company has also improved with enhanced Net worth and Earning Per Share. The profit of SCI is creditable as there has been an unprecedented down turn in the dry bulk and container shipping sector worldwide. SCI prides in having a diversified fleet of 69 vessels of 5.89 mn dwt with an average age of below 10 years.

Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears. According to a Press Trust of India report, these seafarers, deployed on 15 vessels owned and operated by the Centre, launched their strike demanding revised wages in accordance with the clauses of National Maritime Board Indias agreement. These seafarers have also approached the National Union of Seafarers of India (NUSI) for its intervention. "SCI was meant to have increased seafarer wages by 30% as agreed in March last year," says the Union. “The arrears haven’t been given for over a year now.

The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc. Some of the major Indian companies who have signed agreements include the Adanis, Jindal, Vedanta, ESSAR, and Shapoorji Pallonji Company. One significant MOU signed relates to establishment of a greenfield port at Vadhavan, Maharashtra. Phase I of the project is estimated to cost around Rs 9167 crores.

APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of western India’s gateway ports, today announced the commencement of the INDFEX service at Pipavav. The INDFEX ( India – Far East Express ) is run in consortium with Wanhai, K-Line, Shipping Corporation of India, Pacific International Lines ( PIL ) & Simatech, with Wan Hai deploying two vessels, and the others deploying one each. The service provides a weekly connection between the Far East and India. The first vessel m.v. WANHAI 509 berthed at Pipavav at 1048 hours / 14 March, 2016. Officials of APM Terminals Pipavav accorded a grand welcome to the vessel and her crew, captained by Capt. Ma Ke Zeng. The operations were carried out successfully, using the new Post Panamax cranes, recently installed at the port.

Finance Ministry Arun Jaitley in Union Budget for financial 2016-17 (Apr-Mar) has announced imposition of 14% service tax on services provided by domestic shipping companies transporting goods from outside India. “The service tax on services provided by shipping companies by way of transportation of goods by a vessel from outside India up to the customs station in India will be 14% with effect from 1 June, 2016,” said the Budget. Shipping Corporation of India, Mercator and Great Eastern Shipping among others are some of the top domestic shipping companies. The Modi government has allocated Rs 800 crore next fiscal year for development of new ports and ongoing work on its National Waterways project, Arun Jaitley said.

The Shipping Corporation of India’s (SCI) Worldwide Agents' Meet 2016 held on March 2nd, 2016 drew 88 agents from across the world to participate in the Meet. There were representatives from Far East, Indian Subcontinent, Persian Gulf, Western Europe, Mediterranean, Black Sea, East and South Africa, Red Sea, Myanmar, USA, etc. The Chairman & Managing Director (CMD) Capt. B.B. Sinha, CMD, SCI, while delivering the keynote address welcomed the Agents who had gathered from around the world. He gave a brief about the Global shipping scenario. He indicated the tough journey of the shipping fraternity from 2008 till date and how the global supply of ships has outpaced the global demand.