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Shipping Corporation of India Reviews

Mumbai, Maharashtra

4.5/ 5

2 reviews

The Shipping Corporation of India Limited (SCI) is a premier Navratna Public Sector Undertaking (PSU) and stands as India's largest commercial shipping enterprise. Established on October 2, 1961, through the amalgamation of the Eastern Shipping Corporation and the Western Shipping Corporation, SCI is headquartered in Mumbai, Maharashtra. Operating under the administrative control of the Ministry of Ports, Shipping and Waterways, the Government of India maintains a majority stake of approximately 63.75% in the company, which is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Over more than six decades of operation, SCI has evolved from a marginal liner company into a massive maritime conglomerate. It plays a critical role in India’s national logistics, energy security, and international trade infrastructure. The company’s operations are broadly diversified into four major business segments: Tankers, Bulk Carriers, Liner services, and Technical & Offshore services. SCI’s owned and operated fleet includes a diverse mix of crude oil tankers, product tankers, Very Large Crude Carriers (VLCCs), dry bulk carriers, container vessels, liquid petroleum gas (LPG) carriers, and offshore supply vessels. As of recent operational data, the company owns a substantial fleet totaling over 5 million Deadweight Tonnage (DWT) and additionally manages around 40 vessels on behalf of various government departments, public organizations, and research agencies, such as the Andaman & Nicobar Administration and the Oil and Natural Gas Corporation (ONGC). Financially, SCI exhibits strong operational efficiency and consistent profitability. For the fiscal year ending March 31, 2025, the corporation reported a total revenue of INR 5,605.83 crore, representing an 11.08% growth over the previous fiscal year, while its net profit rose by 24.24% to reach INR 843.58 crore. Under the executive leadership of Chairman and Managing Director Captain Binesh Kumar Tyagi, SCI is driving a massive fleet modernization and expansion strategy aligned with India's "Vision 2047" maritime goals, which involves a projected investment of INR 1.5 trillion for acquiring new vessels. Key recent expansions include the procurement of fuel-efficient Very Large Gas Carriers (VLGCs) to fulfill growing domestic LPG and cleaner energy transportation needs. Furthermore, the company is actively advancing the government's "Green Shipping" and sustainability initiatives by investing in green-methanol compliance and modernizing its vessels to align with international maritime environmental standards (MARPOL/IMO). In terms of corporate restructuring, the Government of India has pursued a strategic disinvestment process for its equity stake. To facilitate this, SCI successfully demerged its non-core real estate and land assets into a separate independent entity, Shipping Corporation of India Land and Assets Limited (SCILAL), in the 2023–2024 period, allowing the core shipping business to remain focused on global maritime logistics.