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.
But 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. The current focus seems to be on a strategic sale by the government of the company. Under a new ownership, the company is likely to fare much better.
Source:
But 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. The current focus seems to be on a strategic sale by the government of the company. Under a new ownership, the company is likely to fare much better.
Source:
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