Job Search
 
 
  CV Search
 
 
  News
Trade Growth Slowest Since the Financial Crisis
  
Agility joins Maersk Line Carbon Pact initiative to cut CO2 emissions
  
Tanker markets are improving as more cargoes are coming into the market
  
Fitch Maersk Gets Little Solace from Sectoral Diversification
  
Container Vessels and LPGs the main users of the new Panama Canal so far but LNGs expected to take the helm moving forward
  
 
 

Maritime News

Shipping Corporation of India may hive-off offshore business into separate unit

 

Shipping Corporation of India, the country's largest shipping firm by fleet size, will hive-off its offshore business into a separate subsidiary in a bid to cash on the lucrative sector at a time when the domestic industry is in rough weather. "Talks are on at the moment to hive-off the offshore division into a separate subsidiary. The offshore sector is always a safe bet as it is not as volatile as the general shipping business," said Sunil Thapar, head of tanker and bulk sector, SCI. Globally, shipping industry has been witnessing one of its worst business cycles with plummeting Baltic freight rates and rising cost of bunker fuel. Several Indian shipping companies including Great Eastern Shipping, Essar Shipping and Global Offshore have increased investment in offshore segment where revenue has been more consistent than general shipping business.

With offshore oil exploration activities within India and abroad on the rise a large number of vessels are required to provide logistical support. Chartering of such vessels, usually on a long-term basis, provides consistent revenue stream and Indian companies have been adding offshore support vessels to tap the potential in this market. As part of its expansion plan, SCI will also look into alternate areas of operations, such as shipyards and terminal operations. "In bulk and tanker division, the outlook is not positive at the moment. We can only see the shipping sector recover and stabilise by 2013. But there are many opportunities for us in shipyards and terminal operations and we will be looking for partners in all these areas," said Thapar. The company currently has three units - bulk, liner and offshore.

 Date: 13 Aug 2011                                                                          Source: Indiatimes

 

 

 Featured Company
Oceanic Shipping Services Private Limited,India MARVIN INTERNATIONAL SHIP MANAGEMENT PVT LTD,India K-Ship  Krishnamrutam Enterprises Pvt. Ltd. ,India
Rao Consultancy Pvt Ltd,India ADARSH SHIP MANAGEMENT,India BLUE CRYSTAL MARINE SERVICES PVT. LTD,India
CORPORATE MARITIME SERVICES,India MAERSK ,India Oceans Pride Marine Services Pvt. Ltd.,India
SeaJobhunt,India APAC Marine Services Pvt. Ltd,India AET Shipmanagement (India) Pvt. Ltd,India
Admiral Marine Service Pvt. Ltd,India Helm Shipping Management Private Limited,India SHRI MAHAVIR MARINE SERVICES PVT LTD,India
Ind-Aust Maritime Pvt. Ltd,India Bridgeview Maritime Pvt.Ltd,India Calm Seas Shipping and Maritime Services Pvt.ltd,India
Ad Ship Management pvt. Ltd,India Tristarr Maritime And Shipping Private Limited,India

Copyrights © 2012 seajobhunt.com
Terms and Conditions  -   Sitemap  -   Private Policy  -   FAQ  -   Contact Us
Site By : Pheunix