Shipping Corporation of India profit up 138pc on box boom

THE Shipping Corporation of India (SCI) net profit increased 138 per cent year on year to INR5.7 billion (US$125 million) in the nine months ending December 31 based on a mere 4.1 per cent increase in revenue to INR26.8 billion.

Containers accounted for 32 per cent of revenue, up 24 per cent year on year while bulk revenue slipped 2.2 per cent to INR19.3 billion. This contrasts with a INR2.2 billion operating loss the previous fiscal year.


The carrier operates two liner services to Europe with MSC, as well as intra-Asia services. In response to its success, SCI is expanding its container business, reported London`s Containerisation International, adding that the company has ordered three 6,500-TEU ships for delivery in the second half of 2013 at a cost of US$80 million each.