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The Shipping Corporation Of India Ltd News

11 Feb 2017

SCI's profits Rise

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

10 Dec 2016

SCI Led JV Takes Delivery of LNG Carrier “PRACHI"

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.

07 Dec 2016

New LNG Carrier Delivered for Petronet

Photo: Petronet LNG

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.

19 Nov 2016

SCI Acquires a Secondhand PSV

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

12 Nov 2016

SCI Takes Over Consultancy of MV "Andaman"

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.

26 Oct 2016

INS Viraat on its last Journey

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.

04 Jun 2016

SCI Profit doubles to Rs. 377.29 Crores

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.

25 Dec 2015

SCI Awarded IMS Cetification

The Shipping Corporation of India Ltd was awarded the Integrated Management System (IMS) Certification at its Head Office at Mumbai on 23rd December, 2015 by Arun Sharma, Chairman and Managing Director of Indian Register of Shipping (IRS) and congratulated SCI on “another feather in its existing hat of firsts”. The certificate was received by Arun Kumar Gupta, Chairman and Managing Director of SCI. SCI became the first Indian Shipping Company to be awarded the IMS (QMS 9001, EMS 14001, and BS OHSAS 18001) certification across its establishment and fleet. The scope of IMS certification includes Owning, Managing and Chartering of ships for transportation of goods and passengers, Offshore and marine advisory services, Maritime training services and Port/Terminal Operations Management.

13 Oct 2015

SCI Bags 3rd Best Enterprise Award

The Shipping Corporation of India Ltd., has won the third prize for the ‘Best Enterprise Award’ in the 26th Regional Meet organized by the Forum of Women in Public Sector (WIPS), Western Region. The forum of Women in Public Sector (WIPS) and its network have been functioning since 1989 under the Aegis of SCOPE to promote growth and development of women in PSUs. Central PSUs, nationalized banks and insurance companies are corporate life members of WIPS, and about 10,000 women employees of PSUs from across the country are individual members. The Shipping Corporation of India (SCI) is one of the corporate life members. The Forum of Women in Public Sector (Western Region) held its 26th Annual Regional Meet on October 3…

22 May 2015

SCI Back in the Black after 3 Yrs

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking having reported losses for last three financial years has made a dramatic turnaround,  reporting a net profit of Rs. 200.93 Crores for the year ended 31st March 2015, as against a net loss of Rs. 274.66 Crores in the previous year. The company has reported a quarterly profit of Rs. 101.49 Crores for Q4 FY 2014-15 as against Rs.13.24 Crores reported during the same quarter last year. This is the fifth consecutive quarter of reporting profits. While the net income from operations has almost remained flat, the appreciable decrease in various expenses…

31 Mar 2015

SCI takes Delivery of VLCC "Desh Vibhor"

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Oil Carrier (VLCC) on 28 March, 2015. The vessel has been named “Desh Vibhor”. The vessel was ordered with Jiangsu Rongsheng Heavy Industries Co. Ltd., China during November 2010. The vessel has a gross tonnage of 165,319 tonnes and deadweight of 316,634 tonnes at scantling draft. The vessel has been classed with IRS and LRS and has been built to comply with latest international regulations. Acquisition of this vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. With addition of this vessel, SCI’s fleet strength has increased to 69 vessels of 3.29 million GT and 5.89 million dwt.

13 Mar 2015

CSL to Supply 5 Ships to Shipping Corp, Signs Pact with IHC for Dredgers

Shipping Corporation of India Ltd (SCI) will buy five vessels from Cochin Shipyard Ltd (CSL) and issue tenders for buying two used liquefied petroleum gas (LPG) carriers as it looks to re-start ship purchases that were frozen after poor financial performance, according to a report in the Live Mint. Both are state-owned entities. CSL has also signed an agreement with Netherlands-based IHC BV to collaborate on constructing dredgers for the Indian market. Dredgers are specialized ships used to deepen and maintain the channel of harbours. SCI has approved the signing of a memorandum of understanding with Cochin Shipyard for the five vessels. The price for the five ships has not been decided yet.

21 Jan 2015

Rate Restoration by SCI on Europe Trade

To continue to operate the Services with high level of  reliability, proficiency and meet expectations of the Customers, The  Shipping  Corporation of  India  Ltd., announces Rate Restoration on its Indian Subcontinent to Europe Services viz. ISE and IPAK Service  w.e.f. 9th February,   2015.          The Freight rate increase will be @ US$ 300 / TEU, USD600/FEU w.e.f.  9th February, 2015 .  The rate increase will be applicable for the shipments from  Indian Sub-continent to Europe, Mediterranean, Black Sea  & Red Sea trade route.

01 Dec 2014

Diana Containerships Announces Boxship Delivery

Diana Containerships has announced that on November 28, 2014, through a separate wholly-owned subsidiary, it took delivery of the m/v “Santa Pamina”, a 2005-built Panamax container vessel of approximately 5,000 TEU capacity that the Company entered into an agreement to purchase on November 5, 2014. As previously announced, the “Santa Pamina” is chartered to The Shipping Corporation of India Ltd., at a gross charter rate of US$9,500 per day minus a 5% commission paid to third parties, for a period ending on minimum March 16, 2015 to maximum May 15, 2015.

10 Nov 2014

Diana Buys Another Containership

The Diana Containership fleet continues to grow. (Photo: Diana Containerships, Inc.)

Diana Containerships Inc. (NASDAQ: DCIX), said that on November 5, 2014, it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to purchase from an unaffiliated third party a 2005-built Post-Panamax container vessel of approximately 5,000 TEU capacity, the m/v “Santa Pamina”, for a purchase price of $15.95 million. The vessel is expected to be delivered to the Company from the sellers by the end of November, 2014. The vessel is chartered to The Shipping Corporation of India Ltd.

17 Oct 2014

SCI onto Gujarat Coastal & Exim Container Trades

The Shipping Corporation of India Ltd. (SCI), a Government of India Enterprise, hosted an interactive session on Coastal & Exim container trades of Gujarat on 9th October, 2014 at Courtyard Marriott, Ahmedabad. Shri Arun Kumar Gupta, Chairman and Managing Director of SCI, Capt. B.B. Sinha, Director (Personnel & Administration) of SCI, Capt. Sarveen Narula, Director- Liner & Passenger Services Division of SCI and other senior officials of the company were present at the meet. Shri Arun Kumar Gupta, CMD, SCI, while commencing his speech with “ Customers Devo Bhav “, thanked all the distinguished Guests for attending the Meet and said that SCI looks forward to continued support and more co-operation.

12 Sep 2014

3rd India Ship Recycling Conference Set to be a Big Draw

Delegate registeration for the 3rd India Ship Recycling Conference is going on at a hot pace with a lot of interest having generated with the new Indian Government coming up with a robust growth policy for the Indian Maritime sector. In fact most of the world's ship recycling activity takes place in this region and is known to have tremendous job potential. This major conference of South East Asia is set to take place on September 18, 2014 at Hotel Vivanta by Taj Mumbai. A number of government officials, head honchos of shipping industry, several overseas delegates and other related interests are schudeled to attend the one-day conference.

18 Jul 2011

SCI Orders New Cellular Container Vessel

The Shipping Corporation of India Ltd. (SCI) continues to modernize its fleet by acquiring new vessels. On July 14, SCI placed an order for a Cellular Container vessel of 3,500 TEU capacity, with M/s Rongcheng Shenfei Shipbuilding Co. Ltd., China. The shipyard was selected for building the vessel through competitive global tendering process. The vessel would be built to specifications complying with the latest international and national rules and regulations. This ordered vessel will be equipped with Ballast Water Treatment Plant & camless electronic Main Engines. This container vessel should be delivered to SCI in early 2013. SCI presently operates 5 container services in the Indian, European, Middle Eastern and Mediterranean sectors.

11 Oct 2011

$16B Piracy Issue on Maritime Agenda

Money and Ships conference to review current situation after global attacks hit all-time high of 266 for the first half of 2011- problem costs industry up to $16 billion annually. Global attacks on ships rose to an all-time high of 266, during the first six months of 2011 up from 196 in 2010 according to the International Maritime Bureau (IMB). More than 117 ships were attacked and 20 seized, by pirates off the coast of Somalia alone since January 1, 2011, holding 28 ships and 518 hostages for ransom as of the end of April 2011. These issues are to be raised and reviewed by industry experts at Middle East Money and Ships conference, which takes place at the Address Hotel in Dubai Marina on 16 October 2011.

06 Feb 2012

SCI Orders 6 AHTSVs with ABG Shipyard

Shipping Corporation of India Ltd (SCI) has signed ashipbuilding contract for acquisition of six 80 Ton Bollard Pull Anchor Handling, Towing and Supply Vessels (AHTSVs), with M/s. ABG Shipyard Ltd,. according to a report on http://www.equitybulls.com.

22 Mar 2012

New OSV for India's Offshore Oilfields

The Shipping Corporation of India Ltd. (SCI) has accepted delivery of the 80 T bollard pull OSV “M.V. SCI Mukta”. SCI had signed contracts for acquisition of four newbuilding with Bharati Shipyard Limited, India. The first two vessels, “m.v. SCI Panna” and “m.v. SCI Ratna” were delivered to SCI last year. “SCI Mukta” is the third vessel of the series. The fourth vessel is scheduled for delivery by June 2012. The latest vessel has a gross tonnage of 2,039 tonnes and deadweight of 1,966 tonnes, classed with IRS and been built to comply with the latest and most stringent international regulations. In the offshore sector, SCI presently has a fleet of 12 vessels of which 9 vessels were acquired during the mid eighties.

08 May 2012

China Shipyard Delivers Supramax Bulker to SCI

The Shipping Corporation of India Ltd. (SCI) has accepted delivery of  supramax bulk carrier, 'm.v. The vessel is the last vessel of SCI’s six Supramax bulk carriers ordered from STX (Dalian) Shipbuilding Co. Ltd., China. Orders for these vessels were placed in December 2007 which were ordered as part replacement of SCI’s existing Daewoo series Handymax bulk carriers which were built in 1986/87. With induction of these vessels the overall age profile of SCI’s bulk carrier fleet has improved significantly to 6 years. “m.v. Vishva Diksha” has a gross tonnage of 33,185 tonnes and deadweight of 57,132.5 tonnes. The vessel has been classed with DNV and IRS and has been built to comply with the latest and most stringent international regulations.

29 Oct 2012

China Shipyard Delivers Panamax Bulker to SCI

The Shipping Corporation of India Ltd. (SCI) accepts bulk carrier 'Vishva Vijay' from STX Shipbuilding, Dalian, China. The vessel is the third in a series of four Panamax bulk carriers ordered by SCI from STX (Dalian) Shipbuilding Co. Ltd., China. These vessels are of higher capacity, over 80,000 dwt each, compared with conventional Panamax vessels which are of about 75,000 dwt. MV Vishva Vijay has a gross tonnage of 44,010 tonnes and deadweight of 80,312 tonnes. The new ship is dually classed with LR and IRS and has been built to comply with the latest and most stringent international regulations. As a National carrier, SCI has been aiming to increase its presence in India’s ever increasing dry bulk trade and strengthening the bulk carrier fleet would help SCI contribute to that growth.