SCI to help India achieve ambition of becoming top shipping nation
India’s determination to not just own ships but also construct them locally was highlighted by Union Minister Sarbananda Sonowal, who emphasized the pivotal role of the country’s largest commercial shipping company, Shipping Corporation of India (SCI), in achieving this ambitious goal.
SCI’s Impressive Growth and Strategic Vision
At the 65th anniversary celebrations of SCI held at the Cruise Terminal in Mumbai Port, Sonowal expressed confidence in SCI’s capabilities, stating that the company is poised to surpass ₹2,000 crore in Profit After Tax (PAT) this fiscal year, a significant increase from the previous year.
Established in 1961 with 19 vessels, SCI has evolved into a versatile maritime enterprise managing 58 vessels with a total deadweight tonnage (DWT) of 5.26 million. The company’s operations encompass a wide range of maritime activities, including crude and product tankers, bulk and container shipping, LPG and LNG carriers, offshore services, passenger and coastal transport, project cargo, ship management, and shipbuilding consultancy.
SCI’s Contribution to India’s Maritime Goals
Sonowal commended SCI for its pivotal role in safeguarding India’s energy and trade security, particularly during the recent crisis in the Strait of Hormuz. He urged SCI to play a leading role in advancing the government’s initiatives of Viksit Bharat and Atmanirbhar Bharat, emphasizing the importance of a strong national fleet in India’s quest to become a top shipbuilding and ship-owning nation by 2047.
SCI Chairman and Managing Director BK Tyagi outlined the company’s strategic plans for the future, emphasizing its commitment to expanding and modernizing its fleet to support India’s maritime growth objectives. The company is embarking on a fleet augmentation program, with proposed joint ventures involving Indian Oil’s public sector undertakings and the Bharat Container Shipping Line, aligning with the government’s policy and financing support for the maritime sector.
In conclusion, Sonowal praised SCI’s growth as a testament to Indian enterprise and national determination, highlighting the company’s pivotal role in advancing India’s maritime ambitions. As SCI continues to expand its fleet and forge strategic partnerships, it not only strengthens its own position but also propels India closer to its goal of a vibrant and self-reliant maritime industry by 2047.
