Shipping Corporation of India (SCI), country's largest ocean carrier is all set to take possession of seven ships, owned by Irano Hind Shipping Company, a JV between SCI and Islamic Republic of Iran Shipping Lines (IRISL). The joint venture was dissolved by the Cabinet on April 2 due to tightening of western sanctions, which impacted the company's functioning. The entity has spent around Rs 40 lakh at the time of signing the venture for 49% equity.
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.
