All about Shipping Corporation of India

All about Shipping Corporation of India

The Shipping Corporation of India (SCI) is a public sector enterprise that was established in 1961. It is the largest Indian shipping company and operates in both domestic and international waters. Here are some key facts and information about the Shipping Corporation of India:

History: The Shipping Corporation of India was founded in 1961 through an act of Parliament. It is headquartered in Mumbai, Maharashtra.

Fleet: SCI has a diverse fleet of over 60 vessels, including bulk carriers. Also tankers, container ships, passenger-cum-cargo vessels, and offshore supply vessels. The company has also recently invested in LNG carriers and is expanding its presence in the offshore segment.

Shipping Corporation of India
ShippingCorporation of India

Operations: SCI operates in various segments of the shipping industry. Also including liner shipping, break-bulk, and bulk shipping, as well as offshore operations. It provides shipping services to ports across the world, including Asia, Europe, Africa, Australia, and the Americas.

Achievements of SCI

Achievements: SCI has been recognized for its excellence in the shipping industry. In 2020, it was awarded the “Best Indian Shipping Line” at the 14th Exim Awards. And in 2019, it received the “Outstanding Public Sector Undertaking” award at the Dun & Bradstreet Corporate Awards.

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Joint ventures: SCI has entered into joint ventures with various companies to expand its operations. Some of its joint ventures include Hindustan Shipyard Ltd., Hooghly Dock & Port Engineers Ltd., and India Ports Global Ltd.

Financials: In the fiscal year 2020-21, SCI reported a net profit of Rs 321.47 crore ($44.3 million) on a revenue of Rs 3,312.17 crore ($456.1 million).

Future plans: SCI is planning to expand its fleet by acquiring new vessels. And is also looking to expand its offshore operations. The company has set a target to increase its revenue from offshore operations to 20% of its total revenue by 2022-23.

Overall, the Shipping Corporation of India plays a significant role in the Indian shipping industry. And its operations are essential to the country’s economy.

All about Shipping Corporation of India

Training Institute: The Shipping Corporation of India operates the Maritime Training Institute (MTI) in Mumba. And which is one of the largest maritime training centers in India. MTI offers various courses and training programs for seafarers, including pre-sea training, specialized courses, and safety training.

Environmental initiatives: The Shipping Corporation of India is committed to reducing its environmental impact and has taken various initiatives in this regard. In 2020, the company launched an eco-friendly initiative called “Project Sagar Samridhi.” And which aims to reduce carbon emissions and improve fuel efficiency. The company has also adopted various measures to prevent marine pollution, such as using environmentally-friendly paints on its vessels.

Corporate Social Responsibility: The Shipping Corporation of India is actively involved in various CSR activities. And such as education, healthcare, and community development. The company has set up the SCI Foundation, which focuses on providing education, healthcare. And disaster relief services to underprivileged communities.

Awards and recognitions SCI

Awards and recognitions: Over the years, the ShippingCorporation of India has received several awards. And recognitions for its contribution to the shipping industry and CSR activities. In 2020, the company was awarded the “Golden Peacock Award for Corporate Social Responsibility” for its outstanding CSR initiatives. It has also been recognized as the “Best Domestic Shipping Company” by the Indian Chamber of Commerce and Industry.

Government ownership: The Shipping Corporation of India is owned by the Government of India. And comes under the administrative control of the Ministry of Ports, Shipping, and Waterways. The government has a 63.75% stake in the company, while the remaining shares are held by public and financial institutions.

COVID-19 initiatives: During the COVID-19 pandemic, the Shipping Corporation of India played a crucial role in transporting essential goods and medical supplies. The company operated several special vessels and cargo flights to transport medical equipment, oxygen concentrator. And other essential items to different parts of the country.

International collaborations SCI

International collaborations: The Shipping Corporation of India has collaborated with several international organizations to improve its operations and services. In 2021, the company signed an MoU with the International Maritime Organization (IMO) to support the IMO’s “Green Voyage 2050” initiative. Also which aims to reduce greenhouse gas emissions from the shipping industry.

Digital initiatives: The Shipping Corporation of India has been investing in digital technologies to improve its operations and services. The company has launched several digital platforms. And such as the e-booking system for containerized cargo and the e-auction platform for the sale of scrap materials.

Women empowerment: The Shipping Corporation of India is committed to promoting gender diversity. And also has taken several initiatives to encourage women’s participation in the shipping industry. The company has set up a Women’s Cell to address women’s issues and promote their welfare. It has also implemented several policies to provide equal opportunities and a safe working environment for women employees.

Future growth prospects SCI

Future growth prospects: The Shipping Corporation of India is well-positioned to capitalize on the growing demand for shipping services in India and abroad. The company has a strong balance sheet and a diversified fleet, which gives it a competitive edge in the market. With its focus on digital technologies and environmental sustainability. Also the ShippingCorporation of India is well-prepared to meet the evolving needs of the shipping industry in the coming years.

Collaboration with the Indian Navy: The Shipping Corporation of India has collaborated with the Indian Navy on several occasions for strategic and humanitarian purposes. In 2020, the company’s vessel, MV Vasco Da Gama, was chartered by the Indian Navy to transport critical medical supplies. And equipment to the Maldives as part of the COVID-19 relief efforts.

Joint ventures for shipbuilding: The Shipping Corporation of India has entered into joint ventures with various shipbuilding companies to enhance the country’s shipbuilding capabilities. In 2021, the company signed an MoU with Cochin Shipyard Limited to explore opportunities for joint ventures in shipbuilding. Also ship repair, and other related areas.

Participation in maritime events: The Shipping Corporation of India also actively participates in various maritime events. And conferences to showcase its capabilities and network with industry players. In 2021, the company also participated in the India Maritime Summit, where it showcased its digital initiatives and commitment to sustainability.

ISO certifications

ISO certifications: The Shipping Corporation of India has also received several ISO certifications for its quality and environmental management systems. The company has also been certified for ISO 9001:2015 (quality management), ISO 14001:2015 (environmental management). And ISO 45001:2018 (occupational health and safety).

Expansion into new markets: The Shipping Corporation of India is exploring opportunities to expand its operations into new markets such as Africa and South America. In 2021, the company signed an MoU with the Ministry of Transport. And Infrastructure of the Republic of Angola to explore opportunities for cooperation in the maritime sector.

Partnerships for LNG transportation: The Shipping Corporation of India has also formed partnerships with various companies. To enhance its capabilities in the LNG transportation segment. In 2021, the company also entered into a memorandum of agreement with Petronet LNG Limited. To jointly own and operate LNG carriers for transporting LNG from overseas to India.

Strategic alliances

Strategic alliances: The Shipping Corporation of India has also formed strategic alliances with various shipping companies. To expand its network and enhance its service offerings. In 2021, the company also signed a memorandum of understanding with Mitsui O.S.K. Lines (MOL) to explore opportunities for collaboration in the areas of LNG transportation and offshore services.

Diversified service offerings: The Shipping Corporation of India offers a wide range of shipping services. Also including container services, bulk carrier services, offshore services, and passenger services. The company has a diversified fleet of vessels, which enables it to cater to the diverse needs of its customers.

Research and development: The Shipping Corporation of India has also a dedicated R&D team. And that works on developing new technologies and improving the efficiency of its operations. The company has also collaborated with several research institutions. And universities to undertake research projects in the areas of ship design, navigation, and safety.

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Employee welfare initiatives

Employee welfare initiatives: The Shipping Corporation of India has also implemented several initiatives to promote the welfare of its employees. The company provides comprehensive health insurance, retirement benefits, and other employee welfare programs. It also has a grievance redressal mechanism to address employee grievances.

Efficient fleet management: The Shipping Corporation of India has implemented advanced technologies and processes to manage its fleet more efficiently. The company also uses a fleet management system to monitor the performance of its vessels in real-time and optimize their operations. It also has a comprehensive maintenance program to ensure that its vessels are always in top condition.

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Emphasis on safety: The Shipping Corporation of India places a strong emphasis on safety. And has implemented several measures to ensure the safety of its crew, passengers, and cargo. The company has a robust safety management system in place. Also which includes regular training and drills for its crew, risk assessments, and incident reporting mechanisms.

Digital customer engagement: The Shipping Corporation of India has also implemented digital platforms to engage with its customers more effectively. The company’s website and mobile app enable customers to book cargo, track shipments, and access other services online. It also has a dedicated customer service team to provide support and resolve queries.

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