Shipping Corporation of India (SCI) was established on October 2, 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. The company has emerged into a giant conglomerate with extensive interests in 10 different segments of the shipping trade. It is India’s premier shipping line having a major presence on the global maritime map.
The company is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organisations.
It has presence of a modern, young and diversified fleet along with the presence of a large pool of well trained and experienced manpower both ashore and afloat to operate it. Bulk Carrier & Tanker Division (B&T), the largest profit centre of SCI, operates state-of-the-art and diversified fleet comprising of vessels designed to carry dry, liquid and liquefied gaseous bulk cargoes. During fiscal 2008, the company’s fleet included 79 ships. During the said fiscal, it owned 20 bulk carriers comprising 15 Handymax and five Handysize vehicles.
The company has given physical delivery of its bulk carrier MV. Lok Maheshwari to its buyer.
The company has been conferred the Navratna status that gives it substantial autonomous powers. It is the the 17th Navratna company in the country.
SCI recently took physical delivery of its Cellular Container Vessel of 4400 TEU Capacity - MV SCI Mumbai.
The company has made up plans double its shipping tonnage to 10 million tonnes by buying 40 ships in the next three years. The company is also eager on shipbuilding yards and is in dialogue with a number of Korean companies for setting up world-class shipbuilding yards. However, it has deferred its purchase of eight new vessels and the timeline has been extended to the next financial year.
SCI is also planning to buy vessels from the second-hand market. The company is also looking forward to acquire the sick shipping companies with good assets.