Shipping lines reference: SCI
Shipping line SCI
The Shipping Corporation of India was established on 2nd October 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Starting out as a marginal Liner shipping company with just 19 vessels, the SCI today has metamorphosed into a giant conglomerate having 83 ships of 4.6 million DWT with substantial interests in 10 different segments of the shipping trade.
Sailing through for over 4 decades, the SCI today has a significant presence on the global maritime map and is undoubtedly the Country`s premier shipping line. The SCI owns and operates about 35% of the Indian tonnage and operates in practically all areas of shipping business servicing both national and international trades. Keeping in view the demands of the nation`s trade, the SCI over the years has diversified into a large number of areas, and is today 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.
The SCI has contributed immensely to the growth of India s EXIM trade as well as contributing to the Nation s exchequer by being a net earner / saver of valuable foreign exchange. Over the years, SCI has assumed the role of a lifeline for the country during times of emergency and distress by ensuring continued and uninterrupted supply of crude oil, the fuel, which drives the country`s economy. The liberalization and globalisation of Indian economy has presented the SCI with a whole lot of opportunities to grow and diversify and the SCI is ideally positioned to avail of these opportunities due to the presence of a modern, young and diversified fleet coupled with the presence of a large pool of well trained and experienced manpower both ashore and afloat to operate it.
The SCI is a profitable commercial venture of Government of India and has an excellent track record of earning profits since its inception barring a brief period when the shipping industry worldwide was under depression. The SCI`s annual performance has been rated Excellent consecutively for a record 12 times under the Memorandum of Understanding (MoU) signed with the Government of India.
The Government, mindful of the excellent track record, bestowed the status of Mini Ratna leading to enhanced delegation of powers to the Board in the areas of Capital Investment, Joint Ventures, Opening of New Offices, etc. The continued profitability of the SCI has been due to the innovative and timely strategies and measures adopted by the enlightened SCI Management which included, inter alia, judicious and optimal utilization of available tonnage by deploying it in the most remunerative sectors, commencement of new services in niche markets, identification and expeditious disposal of value destroyers or non-performing assets, forging alliances with the significant players in the market to enhance cargo availability and apportion expenses, administrative cost cutting, etc.
The SCI takes pride in the fact that it is a responsible and socially committed owner, placing greater emphasis on the safety of life, vessels, cargo and the environment it operates in; and has evolved into a highly quality and safety conscious organization. The SCI has also received numerous awards and accolades from various national and international organizations for achieving excellence in customer satisfaction, operational efficiencies, Human Resource training, emergency preparedness etc.
In tune with the worldwide trend of specialisations and the premium placed on core-competencies, the SCI has charted a definitive course of action for the future. The thrust areas for growth and diversification focus on energy transportation including the sunrise segment of LNG transportation and container transportation. The SCI s forays into these areas could either take the form of direct capital investment or by forging strategic and symbiotic alliances with significant players in the market. The SCI has heralded India`s entry into the specialised field of LNG transportation by acquiring a stake in the two Indian LNG transportation agreements contracted till date that too after a global bidding process. The presence of the SCI in these LNG transportation contracts would go a long way in establishing itself as a major LNG transportation player in the world.
The SCI possesses all the ingredients essential for emerging as a truly world class international shipping company and the endeavour of the Management is to facilitate the release of the boundless streams of energy and initiatives and channeling it for the future growth and prosperity of the Company and the Nation.
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