Shipping Corporation of India
The Shipping Corporation of India Ltd (SCI) was formed on 2nd October 1961. The present authorised capital of the Company is Rs.450 crore and paid up capital is Rs.282.30 crore. The status of SCI has been changed from a private limited company to Public limited from 18 September 1992. The SCI was conferred 'Mini Ratna' status by the Government of India on 24 February 2000. At present, the Government is holding 80.12 per cent of the share capital and the balance is held by financial institutions, public and others (NRIs, Corporate Bodies, etc.). SCI has been signing Memorandum of Understanding with the Ministry of Shipping and has received "Excellent" rating consistently for 16 years, up to the year 2006-2007. The SCI signed the MOU for the financial year 2008-2009 with the Ministry of Shipping, Road Transport & Highways, Government of India on 27 March 2008.
As on 01.06.2008, the share of SCI in total Indian tonnage in terms of GT is around 31% and in DWT terms 32%. Presently, the SCI's fleet stands at 79 vessels aggregating about 2.7 Million GT (4.8 Million DWT) comprising of Cellular Container Vessels, Crude Oil Tankers (including a Combination Carrier), Product Tankers, Bulk Carriers, LPG/Ammonia Carriers, Phosphoric Acid Carriers, Passenger-Cum-Cargo Vessels and Offshore Supply Vessels. The SCI provides Liner and Passengers Services, Bulk Carrier and Tanker Services, Offshore Services and Specialised Services. Additionally, the SCI also mans and manages 53 vessels aggregating to 0.12 Million GT (0.06 Million DWT) on behalf of various Government Departments and other Organisations comprising Passenger-cum-cargo vessels, Bunkers barge, Research Vessels, Offshore Supply Vessels (OSVs), Seismic Survey Vessel, Well Stimulation vessel, Diving Support vessels, Geotechnical vessel and Multipurpose Support Vessels (MSVs). The highly diversified fleet of the SCI includes modern and fuel-efficient ships giving it a qualitative status as also a distinct competitive edge over other fleet owners.
The SCI has maintained a consistent track record of profitability and dividend. The turnover for the financial year 2006-07 was Rs.4,210.00 crore and the net profit after tax was Rs.1,015 crore and it has paid a divided of 85%. The SCI's Turnover for the financial year 2007-2008 is Rs.4,084 Crore and the Net Profit after Tax is Rs.814 Crore and it has paid an interim Dividend of 45% for the year 2007-08.
The SCI is a pioneer in India with regard to:
- STS operations for crude, POL and dry bulk cargoes,
- Cryogenic operations (LNG /LPG),
- Joint Ventures and other type of collaborations in shipping, and
- Shipping consultancy services.
The training of personnel acquired a new dimension with the setting up of a Maritime Training Institute (MTI) at Powai, Mumbai. The MTI has extensive modern training facilities so as to ensure that the skill and expertise of the SCI personnel is at international levels. Since June 1988, all the SCI in-house courses are being conducted at the MTI. It is recognised as a branch of the World Maritime University Malmo (Sweden) for conducting International Maritime Organisation (IMO) seminars and short specialised courses in India for the countries of South East Asia and Pacific region. MTI is also recognised as an UNCTAD training centre for shipping management courses. MTI has been awarded the coveted Golden Peacock Award for excellence in Training.
On 8th March, 2007, SCI was awarded MOU Excellence Certificate for the year 2004-05 and 2005-06 by the Government of India, Ministry of Heavy Industry and Public Enterprises, Department of Public Enterprises. SCI was the winner of the best international solution award and the third annual HSBC global payments and cash management partnership award, which was posted in Bangaluru on 5th Nov. 2007. The SCI won the "Shipowner/operator of the year 2007" at the seatrade middle east and Indian sub-continental award 2007, held in Dubai in November, 2007 SCI also won the "Shipowner of the year 2007" at Lloyds list Middle East and Indian sub-continental award, held in Mumbai in November, 2007.
Liquiefied Natural Gas (Joint Ventures) : LNG has been identified as the future fuel for India's power plants and as a feedstock for Chemical/Petrochemical industry. SCI has identified carriage of Liquified Natural Gas (LNG) as one of its thrust and growth area and has its presence in the Petronet LNG project.
India LNG Transport Company No. 1 & 2 Ltd. : These two Joint Venture companies formed at Malta are promoted by the SCI and three Japanese companies viz M/s. Mitsui O.S.K. Lines Limited (MOL), M/s. Nippon Yusen Kabushiki Kaisha Limited (NYK Lines) and M/s. Kawasaki Kisen Kaisha Limited (K Lines) and M/s. Qatar Shipping Company (Q Ships), Qatar. The two JVCs own and operate the two LNG tankers viz SS Disha and SS Raahi respectively until 31.3.2008, both tankers operated without any off-hires and have carried about 157 cargoes and 120 cargos of LNG each from the inception of the two JVCS, totalling to 18.16 million metric tonnes of LNG .
India LNG Transport Company No. 3 Ltd.: The JVC also formed at Malta is promoted by the SCI and the above mentioned three Japanese companies (Viz MOL, NYK lines, K Lines), M./s. Qatar Gas Transport Company Limited (QGTC) and M/s. Petronet LNG Limited (PLL) to construct, own and operate one LNG Tanker of about 155.000 cbm, chartered under a long-term Time Charter Agreement for 25 years. The tanker is currently under construction and will be delivered in September, 2009. It would be deployed for supplying additional 2.5 million tones of LNG to the Dehaj terminal of PLL, which is being expanded.
Irano Hind Shipping Company (IHSC): SCI has another Joint Venture in Iran, viz Irano Hind Shipping Company, which continues to operate successfully for over 3 decades. The Joint Venture between SCI & Islamic Republic of Iran Shipping Lines (IRISIL) was established at Tehran, in March 1975. The Joint Venture Company continues to perform satisfactorily and during the Iraninan year 1385 (from 21.03.2006 to 20.03.2007) earned a Net Profit after Tax of Iranian Rials 33.336 Billion (US$ 3.683 Million). The aggregate professional Net Profit after Tax of the Joint Venture and its Subsidiaries for the year ended 20.03.2007, stood at US$ 18.102 Million. The fleet owned by the Joint Venture together with its Subsidiaries, as at the end of the financial year, stood at 6 ships of about 0.494 Million DWT.
Sethusamudram Ship Channel Project: The Government of India through the Ministry of Shipping decided to set up a "Special Purpose Vehicle" (SPV) in the name and style "Sethusamudram Corporation Limited" (SCL) to raise finance and to undertake such other activities as may be necessary to facilitate creation and operation of a navigable channel from Gulf of Mannar to Bay of Bengal through Palk Bay (Sethusamudram Ship Channel). As per the Government directive, this Project is to be funded by way of equity contributions from various PSUs including SCI. Pursuant to the Government directive; SCI Board decided to participate in the project with a capital investment upto Rs.50.00 crores. The SCI's total contribution towards equity in SCL as on 22.5.2008 is Rs.50.00 crores.
The Right to Information Act, 2005: With a coming into effect of the Right to Information Act on 12.10.2005, SCI has complied with the provisions of the Act and has placed the "Information Request Form" along with a 'List' showing names of Public Information Officers and Assistant Public Information Officers on its website.
Source: National Portal Content Management Team, Reviewed on: 15-02-2011 
