SCI to take possession of seven ships from Irano Hind Shipping

10 Apr 2013

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.

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