The Shipping Corporation of India was established on October 2nd, 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 has today evolved into the largest Indian shipping Company. The SCI also has substantial interests in various segments of the shipping trade. SCI’s owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the SCI today has a significant presence on the global maritime map.
As the country’s premier shipping line, the SCI owns and operates around one-third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades.
In view of the demand from Indian trade, the SCI has diversified into a large number of areas. The SCI is today the only Indian shipping Company operating: break-bulk services, international container services, liquid/dry bulk services, offshore services, passenger services. In addition, the SCI mans and manages a large number of vessels on behalf of various government departments and organizations.
The SCI has immensely contributed to the growth of India’s EXIM trade and the national exchequer, by being a net earner/saver of valuable foreign exchange.
Over the years, SCI has been a lifeline for the country in times of emergency and distress, by ensuring continued and uninterrupted supply of crude oil, which drives the country’s economy.
Liberalization and globalization of the Indian economy has presented the SCI with a suite of growth and diversification opportunities. The SCI’s growth has been additionally spurred on by the presence of a modern, young and diversified fleet, operated by a large pool of well trained and experienced manpower, both onshore and at sail.
As a profitable commercial venture of the Government of India, the SCI has an excellent track record of profitability since its inception. The SCI’s annual performance has consecutively been rated excellent for a record 18 times, under the Memorandum of Understanding (MoU) signed with the Government of India.
The Government of India has conferred “Navratna” status to SCI on 01.08.2008 - enhanced autonomy and delegation of powers to the Company towards capital expenditure, formation of Joint Ventures, mergers, etc.
Continued profitability of the SCI is been due to a slew of innovative and timely strategies and measures adopted by the SCI management. Amongst these include, 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 leading market players to enhance cargo; availability and apportioning of expenses; and administrative cost cutting.
The SCI takes pride in being a responsible and socially committed owner, placing greater emphasis on the safety of life, vessels, cargo and the environment it operates in. Today, the SCI has evolved into a highly quality and safety conscious organization.
Not surprisingly, the SCI has received numerous awards and accolades from various national and international organizations for excellence in customer satisfaction, operational efficiencies, human resource training and emergency preparedness.
In tune with the global trend for specialization and the premium placed on core competencies, the SCI has charted a definitive course of action for the future. Thrust areas for growth and diversification focus on energy transportation, including a sunrise segment like transportation of LNG and containers. The SCI forays into new thrust areas could either take the form of direct capital investment or by forging strategic and symbiotic alliances with significant market players in the market.
The SCI has heralded India’s entry into the specialized field of LNG transportation, by acquiring a stake in the two Indian LNG transportation agreements contracted till date, after a global bidding process. SCI is the only Indian shipping company engaged in transportation of LNG, a vital fuel for India’s power plant and chemical / petrochemical industry. For the same purpose, SCI has formed three Joint Ventures with one vessel each. On two of these LNG vessels, SCI is managing onboard operation and technical management and the remaining vessesl is fully manned by SCI.