The Shipping Corporation of India (SCI) Ltd. Was form on 2 October 1961. The current official capital of the company is Rs 450 crore and the paid up capital is Rs 282.30 crore.
SCI’s status has been change from private limited company to Joint stock company since 18 september 1992. SCI was confer the status of “Mini Ratna” by the government of india in february 2000. At present, the government owns 80 12 percent of the share capital and the rest is in the hands of financial, public and other entities (INR, legal persons, etc.)
SCI’s share of total Indian tonnage in GT terms is around 39 percent and in DWT terms around 40 percent. Nse:sci current fleet consists of 86 vessels adding around 2.7 million GT (4.6 million DWT) and comprising general cargo ships, cellular container ships, and crude oil tankers (including combination ships). Tankers product carriers, bulk carriers, LPG/ammonia vessels, acid vessels, passenger ships and offshore supply vessels. The SCI provides line and passenger services, bulk and oil tanker services, offshore services and specialized services, etc.
Table of Contents
1. Cochin Shipyard Limited:
Cochin Shipyard Limited (CSL) was incorporated on March 29, 1972, as a wholly owned government company. The yard is design to build ships up to 110,000 dwt repair ships up to 125,000 dwt.
The shipyard has built and delivered nine large ships (five bulk carriers and four oil tankers). The shipyard deliver the Cargo Launch Vessel, the first export order, to its owner, National Petroleum Construction Company, Abu Dhabi. It has also built 36 vessels.
2. Hindustan Limited Shipyard:
Hindustan Shipyard Limited (HSL), visakhapatnam, was established in 1941 in the private sector and was taken over by the government in 1952. In 1962, the shipyard nse:sci became a central public sector company. The nse:sci shipbuilding capacity of the yard is 3.5 pioneer class vessels of 21,500 DWT each. The maximum size of the vessel that could be built is 50,000 dwt.
The patio has steps, a covered construction dock, a wet basin and an equipment jetty. HSL is the first shipbuilding yard in the country to receive ISO: 9001 certification from Lloyds Register of Quality Assurance, London, for the international quality assurance standard. For ship repair, the shipyard has facilities such as a modern dry dock, wet dock, repair ships, etc., and can undertake repairs on submarines, oil tankers and ships of up to 70,000 dwt.
Who can access SCI?
Access to SCI is only granted to individuals who have a need to know, have obtained a personnel security (PerSec) top secret clearance, and approved by the department of commerce intelligence community granting agency, after completing a separate confidentiality agreement, form IC 4414.
Govt to invite financial bids for Shipping Corp in May –sources.
The government plans to invite financial offers for the privatization of Shipping Corp of India Ltd (SCI) nse:sci next month as it seeks to sell the state-owned company after years of delay, two government officials told Reuters.
In 2019, the administration led by Prime Minister Narendra Modi announced plans to privatize several state-owned companies, including the sale of its stake in SCI, which stalled due to regulatory delays.
Nse:sci, which owns and operates bulk carriers and oil tankers, among others, had to spin off its non-core assets before the government could sell its 63.75% stake, causing a hurdle over how much funds would be transferd to the spun off entity.
SCI completed the spin-off last month after obtaining regulatory approval at the end of February.
This spun off entity, called SCI Land Assets Ltd, must be listed by April 23 and the government plans to do so soon, one of the two officials said.
The government now aims to invite financial offers for SCI, which owns and operates around a third of India’s total tonnage, by mid-May, the two officials said.
The officers did not want to be name as the plan is not yet public.
The final decision will be made on April 14 by sheet headed by India’s breakfront secretary, they said.
This panel will also study a proposal to invite initial offers to sell the government’s 31% stake in Container Corporation of India Ltd, which has been delayed from 2020, one of the officials said.
The Finance Ministry did not immediately respond to an email seeking comment.
shipping corporation of India Ltd
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Conclusion
The shipping corporation of india limited is a shipping company nse:sci that operates across liner segment. Bulk segment, and technical and offshore.