IRClass To Provide ERS for 33 Ships
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…
IRClass Wins SCI Contract for 33 Vessels
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.
VLCC Explodes off Oman Coast
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.
ABB Power and Automation for New Indian Ferries
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…
Cochin Shipyard Builds 4 Ships for Andaman & Nicobar
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.
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.
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.
New LNG Carrier Delivered for Petronet
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.
Indian Master Receives 2016 IMO Award for Exceptional Bravery at Sea
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.
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
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.
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.
Shipping to Get Status of infrastructure in India
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…
SCI to Buy Vessels for $134m
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.
India's SCI to Sail to Iran
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 expands its Coastal Shipping Services
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…
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.
Shipping Corp Seafarers on Hunger Strike
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.
Maritime India Summit Attracts $12.5 billion Investment
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.
APM Terminals Pipavav Welcomes INDFEX Service
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.
Indian Budget Proposals for Maritime Sector
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.
SCI’s Worldwide Agents’ Meet 2016
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.
Shipping Corporation Q3 Profit Surges
The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs. 31.35 crores during the quarter ended 31st December 2014. With this, SCI, a public sector company, has registered a net profit of Rs. 384.41 crores for the nine month period ended 31st December 2015 as against a net profit of Rs. 99.44 crores reported during the same period last year. SCI…