Shipping Corporation of India

Indian government-owned shipping company

Shipping Corporation of India
Company typePublic
Traded as
BSE: 523598
NSE: SCI
IndustryShipping
Founded2 October 1961; 62 years ago (2 October 1961) in Mumbai
HeadquartersMumbai
Key people
Binesh Kumar Tyagi (Chairman & MD)
RevenueIncrease ₹5,098.59 crore (US$640 million) (2022)[1]
Net income
Increase ₹809.26 crore (US$100 million) (2022)[1]
Total assetsIncrease ₹13,855.06 crore (US$1.7 billion) (2022)[1]
Total equityIncrease ₹8,699.64 crore (US$1.1 billion) (2022)[1]
OwnerGovernment of India (63.75%)[2][3]
Number of employees
554 (Jan 2022)[4]
Websiteshipindia.com

The Shipping Corporation of India (SCI) is a public sector undertaking that operates and manages vessels servicing both national and international lines. It is under the ownership of the Government of India and under administrative control of the Ministry of Ports, Shipping and Waterways, with its headquarters in Mumbai.[5]

History

SCI Head Office at Nariman Point Mumbai

SCI was established on 2 October 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Two more shipping companies, Jayanti Shipping Company and Mogul Lines Limited, were merged with SCI in 1973 and 1986 respectively.[6]

SCI started out with 19 vessels. It gradually metamorphosed into a conglomerate having 80 ships of 59 lakh (5.9 million) tonnes deadweight (DWT) with interests in different segments of the shipping trade.

Inland & Coastal Shipping Ltd. (ICSL), SCI's wholly owned subsidiary was incorporated in 2016 after Maritime India summit for undertaking/providing transport services through Inland waterways and coastal shipping.

On 21 November 2019, the Government of India approved the privatisation of SCI.[7] In 2022, the privatisation was delayed by the Russo-Ukraine war.[8]

Services

  • Cruise liner and Passenger services
  • Bulk carrier and tanker services
  • Offshore services

Major clients

See also

  • flagIndia portal

References

  1. ^ a b c d "Balance Sheet 31.03.2022".
  2. ^ "Latest Shareholding Pattern - Shipping Corporation of India Ltd". trendlyne.com. Retrieved 29 July 2020.
  3. ^ Paris, Costas (10 March 2021). "India's Top Shipping Company Set to Kick Off Privatization Push". Wall Street Journal – via www.wsj.com.
  4. ^ https://www.shipindia.com/pdf/performance/SCI_Annual_Report_21-22_Revised1.pdf [bare URL PDF]
  5. ^ "Contact Us - Registered Office: Shipping House". Archived from the original on 10 December 2008.
  6. ^ "About us: Shipping Corporation of India". Archived from the original on 15 December 2009.
  7. ^ Arup Roychoudhury (21 November 2019). "Privatisation push: Cabinet approves strategic sale of BPCL, 4 other PSUs | Business Standard News". Business Standard. Retrieved 13 May 2020.
  8. ^ Saxena, Ragini; Amin, Haslinda; Salamat, Rishaad (8 March 2022). "Ukraine war a roadblock for SCI privatisation". The Economic Times. Retrieved 7 May 2022.
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