SHIPPING CORPORATION OF INDIA’S DEFINING END IN CONTAINER BUSINESS

BY INDIAN PRESS, MUMBAI | AUGUST 11, 2014

State run Shipping Corporation of India (SCI) is considering gradual reduction of its exposure to the loss-making international container service.

SCI, India’s biggest ocean carrier is losing money heavily from operating five container ships (it has a total fleet of 72 ships). The losses from this business have only added to the poor performance of its bulk carrier and tanker unit—the main profit centre of the company in the last two years. SCI, 63.75% owned by the government, is India’s only mainline container ship operator servicing the country’s export-import trade.

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