Shipping Corporation of India will increase container rates on the India–Europe sector by $200/TEU from November 1. The company said it is a ‘rate restoration' to meet the operational cost and make the service viable. The average rate in the sector is around $1,000-1,200/TEU, although officially the rate is $1,400/TEU. The company is trying to meet its cost, which has gone up substantially.
In the India- Europe sector, SCI operates service jointly with Mediterranean Shipping Lines. The ‘SCI-MSC' consortium operates a weekly service with seven vessels of about 3,500 TEU capacity. SCI contributes two owned vessels and one in-chartered vessel, while MSC contributes four vessels in the service.
In other news, the company has filed Draft Red Herring Prospectus with SEBI yesterday. The total issue size will be 8.4 crore shares, of which 4.2 crore will be on offer for sale by the Government. The issue size would be around Rs 1,500 crore.
crackcrackCompany Name | CMP |
---|---|
Shipping Corpn. | 210.00 |
GE Shipping | 968.85 |
Dredging Corp | 849.00 |
Seamec | 1115.80 |
Transworld Shipping | 420.80 |
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