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Shipping Corporation of India: Scripting a different story
Jun 26: The Shipping Corporation of India has not added any ship in the last one year primarily due to weak shipping markets. Many vessels are currently placed in the spot market and are competing with other shipping companies for the same business. These vessels are working at less than 50% utilization. Long term contracts are limited under the current environment.
8But a shrinking global shipping order book, bottoming asset prices, lower crude prices (lower bunker) and stable shipping freight rates bode well for shipping companies including the SCI
8The current focus seems to be on a strategic sale by the government of the company.
8Under a new ownership, the company is likely to fare much better
Click on Reports for a full analysis of the company's future prospects


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