Friday, 11 October 2019 14:30

Plans to Privatize Shipping Corporation of India

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Shipping Corporation of India may be privatized by the government as part of a wider privatisation programme involving a number of key state assets. The government owns 63.75 per cent of the flagship carrier, which has a fleet of 64 ships, comprising 15 bulkers, 22 tankers, two containerships, four gas ships and 10 offshore support vessels (OSVs), as well as significant real estate holdings in Mumbai. The privatisation plans need approval from the central cabinet before any sales process can commence, reported Singapore's Splash 247. SCI was established 58 years ago through a merger between Eastern Shipping Corporation and Western Shipping Corporation.

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