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SCI soars on hiking container freight rates by up to 80%

27 Aug 2013 Evaluate

 SCI is currently trading at Rs. 33.30, up by 0.55 points or 1.68% from its previous closing of Rs. 32.75 on the BSE.

The scrip opened at Rs. 33.10 and has touched a high and low of Rs. 33.55 and Rs. 32.80 respectively. So far 36,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 60.95 on 08-Jan-2013 and a 52 week low of Rs. 26.25 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 33.95 and Rs. 28.45 respectively. The current market cap of the company is Rs. 1,551 crore.

The promoters holding in the company stood at 63.75% while Institutions and Non-Institutions held 20.87% and 15.38% respectively.

Shipping Corporation of India (SCI) has hiked its container freight rates by up to 80% on the Europe, Mediterranean, Black Sea and Red Sea trade routes. The company has taken this step as there has been an uptick in the fuel costs, insurance premiums and port handling charges. The revised rates will be effective from September 1. A standard 20 feet container’s rate will go up by $300 to $750 while for a 40-feet container, the rate will go up by $600 to $1,350.

The shipping industry world-over has been facing turbulent times due to excess supply of capacity in the market and the slowdown on the economic front. The rates have plummeted from $ 1,400 to the current $ 450 per TEU over the last one year.

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

305.85 16.65 (5.76%)
17-Apr-2026 16:59 View Price Chart
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Shipping Corpn. 305.85
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