Shreyas Shipping soars on partnering with SCI to strengthen coastal shipping

07 Jun 2016

Shreyas Shipping & Logistics is currently trading at Rs. 369.10, up by 47.10 points or 14.63% from its previous closing of Rs. 322.00 on the BSE.

The scrip opened at Rs. 330.35 and has touched a high and low of Rs. 378.80 and Rs. 328.40 respectively. So far 1,41,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 839.50 on 05-Aug-2015 and a 52 week low of Rs. 133.10 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 378.80 and Rs. 315.30 respectively. The current market cap of the company is Rs. 814.62 crore.

The promoters holding in the company stood at 73.25%, while Institutions and Non-Institutions held 1.18% and 25.57% respectively.

Shreyas Shipping & Logistics, a leading Mumbai based shipping and logistics solution provider, part of conglomerate Transworld Group, has recently entered into a Vessel Sharing Arrangement (VSA) with Shipping Corporation of India (SCI) on two of the services connecting East coast of India and vice versa along with Persian Gulf with addition of new ports commencing with effect from 9th June, 2016.

Shreyas partners SCI in SMILE service on revised rotation of Mundra-Pipavav-Cochin-Tuticorin-Chennai-Katupalli- Krishnapatnam- Pipavav/ Mundra-Jebel Ali offering services to additional ports of Krishnapatnam and Pipavav to its customers. Shreyas can now offer service from these additional ports into Gulf countries and vice versa. This service shall operate with four vessels ranging from 1650 teus to 4400 tues (three vessels of SCI and one vessel of Shreya) on a fixed day weekly rotation.

Similarly, PIX II service will be operated jointly on a fixed day weekly rotation: Mundra- Kattupalli-Vizag- Kakinda- Tuticorin- Cochin- Jebel Ali with an option of calling Colombo enroute. In fact, Kakinda is a new port included in this service. This service shall be operated with four vessels of about 1650 teus each (three vessels of Shreyas and one vessel of SCI).

Shreyas Shipping and Logistics was formed primarily to own and operate vessels for feedering of containers between Indian Ports and Internationally renowned container transshipment ports.

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Shreyas Shipping Share Price

102.20 4.20 (4.29%) May 17, 18:01
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