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Shipping Corporation set aside Rs 900 crore capex for FY17

23 Aug 2016 Evaluate

Shipping Corporation of India (SCI) has set aside Rs 900 crore capex for FY17 even as business climate remains grim for the industry across globe mainly because of availability of low-priced assets in the market.

The country’s largest shipping company has reported disappointing results in the June quarter with revenues taking a sharp hit due to weak dry bulk business across globe. Going ahead, the company is planning to focus on reducing its costs in order to protect its operating profits which have been taking a hit due to lower revenues.

SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.

Shipping Corpn. Share Price

312.65 -7.40 (-2.31%)
06-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 312.65
GE Shipping 1576.20
Dredging Corp 953.70
Seamec 1537.60
Shreeji Ship.Global 427.35
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