SCI Resorts to Rate Restoration

By Joseph R. Fonseca
Monday, August 25, 2014
SCI Container vessel

 

To meet increasing operational costs and maintain high level of reliability and proficiency to our Customers, The Shipping Corporation of India (SCI) has announced hike in rates on ISE and IPAK Service (Indian Subcontinent to Europe) w.e.f. 12th September, 2014 applicable for the shipments from Indian Sub-continent to Europe, Mediterranean, Black Sea  & Red Sea trade route.

The Freight rate increase will be @ US$ 250/TEU, USD500/FEU w.e.f.  12th September,  2014 . 

SCI will continue to operate the Service with high level of reliability, proficiency and meet expectations of our Customers.

In the June and March quarter, the liner business posted a loss at the earnings before interest and tax (Ebit) level of $ 0.83 mi and $ 6.1 mi respectively. The rate restoration  is seen as a positive move by the company.

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