Shipping Corporation of India Ltd
NSE: SCI BSE: 523598
â‚ą268.07
+9.04 (3.49%)
Thu, 05 Nov 2026, 08:59 pm
Market Cap (in Cr)12061.87
PE Ratio7.72
Dividend2.90
Transportation
Air Freight/Couriers
24.5KShipping Corporation of India Ltd Company History
1961
- Company incorporated in Mumbai on October 2.
- Western Shipping Corporation Ltd. merged into Eastern Shipping Corporation Ltd., renamed Shipping Corporation of India Ltd.
- Operates as autonomous body under Ministry of Transport and Communications.
- Operates cargo, passenger cum-cargo, and tanker services.
1962
- Entire capital held by Government of India.
1971
- 449,844 shares issued to Government against acquisition of Jayanti Shipping Co. Ltd. shares.
1972
- 100 shares issued to Government without payment in cash.
1992
- Acquired m.v. Ramanujam for Rameshwaram-Talaimannar service.
1993
- Expected designation of Port of Novorossisk for Indo-Russian cargoes; Rupee-Rouble settlement advanced.
- No Polish purchase of Indian Oil Cakes due to South American soyabean.
- Indo-Czech trade affected by Czechoslovakia split.
- Continued passenger and cargo services to Andaman-Nicobar; transported 131,811 passengers, 91,201 tonnes cargo, 18,383 CBM tubes/logs.
- Proposed JV with SCICI and Transport Corporation of India for Ro-Ro service.
- Placed orders for 4 crude tankers (140,000 DWT); secured 4 vessels (2 bulk, 2 general cargo) of 79 planned.
- Undertook acquisition of 2 double hull tankers replacing single hull.
- Transported 68,220 passengers, 10,984 tonnes cargo to islands.
- Took delivery of handy bulk carrier m.v. Lok Pratap.
1994
- Five vessels deployed carrying 114,693 passengers, 80,011 tonnes general cargo, 6,574 CBM logs.
- Took delivery of three double-hulled crude tankers m.t. Ankleshwar, m.t. Gandhar, m.t. Maharaja Agarsen from Korea; second-hand Japanese product/chemical tanker.
- Placed orders for 2 bulk carriers (42,750 DWT) with Hindustan Shipyard Ltd.
- Operated 3 passenger-cum-cargo ships, 2 inter-island ferries, 2 cargo barges for Mainland-Lakshadweep.
- Carried 64,530 passengers, 16,615 tonnes cargo.
- m.v. Ramanujam diverted to Andaman-Nicobar due to Talaimannar conditions; fleet of 26 crude carriers, 8 product carriers.
- Government disinvested 38,64,600 shares (1.37%); holding reduced to 80.12%.
- Sold m.v. Harrai and m.v. Lok Vivek.
- Took delivery of m.v. Lok Pratap.
1995
- Entered separate contract with Enron; m.t. Netaji Subhash Bose given on time charter.
1996
- Acquired secondhand MR product tanker m.t. Bharatidasan.
- Implemented innovations: unifuel system, GMDSS, cargo tank monitoring, epoxy paint, shipboard oil pollution plan.
1997
- Acquired crude tanker m.t. Guru Gobind Singh from Korea.
- Acquired secondhand multipurpose dry cargo vessel MV Vishva Karma.
- SCI to form JV with Singapore firm for bulk transportation.
- SCI signed MoU with Union surface transport ministry for 1997-98.
- SCI signed contract with Hyundai Heavy Industries for 29,999 DWT product carrier.
- SCI completed first ship-to-ship crude oil transfer at Saugar Roads.
- SCI signed contracts with Hindustan Shipyard for 2 hanymax bulk carriers (42,750 DWT).
- SCI signed agreement with Halla Engineering for 2 Aframax crude tankers.
- SCI entered agreements for container feeder services Chennai-Colombo and Mumbai-Persian Gulf.
1998
- SCI may establish subsidiary for coastal shipping and IWT.
- MoST gave in-principle consent for 50:50 JV with RCF.
- SCI set up first GMDSS laboratory in India.
- SCI intends JV with foreign partner.
- SCI and OCC signed MoU to renew crude transportation contract.
1999
- SCI signed agreement for Enron's LNG transportation project with Mitsui OSK Lines.
- Government cleared $200 million JV between SCI, Enron Power Corporation, Mitsui OSK for Dabhol LNG.
- IOC and SCI to float JV with Calcutta Port Trust for light tonnage.
- Largest double hull oil tanker handed over to SCI.
- RCF and SCI to set up 50:50 JV shipping line for urea from Oman.
- SCI entered JV with Enron and Mitsui OSK for LNG transport to Dabhol.
2000
- Company awarded star performer's award for fastest transit time on UK/North Continent-South Asia route.
- SCI considered hiving off into three companies per PwC proposal.
- SCI raised $115 million external commercial borrowings for 4 Aframax tankers.
- SCI won 1999 Lloyds Register's Standard Ship Emergency Exercise Award.
- SCI tied up with Mitsui OSK, NYK, K Line for Petronet LNG tender.
- SCI considered three-way split restructuring per PwC.
- Chairman P.K. Srivastava received three-month extension.
- Government held 80%; plans for disinvestment.
2001
- One Bulk Carrier (45,792 DWT) inducted; 14 vessels (512,006 DWT) disposed; fleet at 99 ships.
- SCIL and Mitsui OSK Lines won $400 million Petronet LNG contract for 2 LNG carriers.
- SCIL planned to acquire 2200/2300 TEU vessels for UK/Continent route.
2002
- Government decided on strategic sale of 51% equity with Rs. 800 crore networth criterion.
- SCI signed 5-year Rs. 200 crore loan with Bank of Baroda at 8.75% to prepay government debt.
- Seamen's union planned strike against disinvestment.
- Mitsui O.S.K withdrew EoI for controlling stake.
- IOC ended SCI monopoly for crude freighting with private bids.
- V-Ships disqualified for lacking Rs. 800 crore networth.
- SCI paid Rs. 255 crore debt to government before disinvestment.
- SCI recorded 82% dip in net profit.
2003
- Petroleum Ministry refused nodal agency status for crude transport.
- A.K. Mohapatra appointed part-time director.
- SCI declared interim dividend of 30%.
- SCI advised crew on SARS precautions.
- Cabinet committee decided to invite fresh EoI for 51% disinvestment.
- Shri. M. Ramachandran appointed part-time director.
- SCI inked agreement with Hyundai Heavy Industries for 2 VLCCs.
- SCI decided to pick up stake in ONGC marine joint venture.
- SCI divestment postponed indefinitely.
- Mr Susheel Kumar appointed part-time official director.
2004
- New ship 'Desh Shanti' inducted into SCI fleet on June 9.
- Ministry supported SCI sale but wanted govt to retain 75% stake.
2005
- Shipping Corporation signed contracts with Daewoo Shipbuilding, South Korea.
- Shipping Corp won IOC crude transport bid.
- SCI to acquire Korean carriers for Rs 1000 crore.
2006
- Shri N C Singhal ceased to be Independent Director.
- M/s S. Bhandari & Company and M/s. Khandelwal Jain & Company appointed statutory auditors for 2006-07.
- Shipping Corporation signed MoU with ONGC.
- SCI to tie up with Shapoorji Pallonji.
- SCI joined hands with global players for US service.
2007
- Shri. Nasser Munjee appointed non-official part-time Director.
- Shri. J N Dasas appointed Director (Liner & Passenger Services).
- Shri. B S Meena appointed director by SAIL.
2008
- Company issued bonus shares in 1:2 ratio.
2009
- SCI considered acquiring three container ships for $225 million.
2010
- Delivery of Medium Range Product Tanker m.t. Swarna Mala (51,196 DWT).
- Delivery of LR-I Product Tanker m.t. Swarna Ganga.
- Entered shipbuilding contract for 4 Kamsarmax Bulk Carriers (80,000 DWT each) with Jiangsu Eastern Heavy Industries Co., Ltd.
- Delivery of Aframax Tanker m.t. Desh Mahima.
2011
- SCI signed contract with Grand Yard Investments Ltd., China.
- SCI signed shipbuilding contract for 3500 TEU cellular container vessel.
2012
- SCI took delivery of Supramax Bulk Carrier m.v. Vishva Vikas (57127.8 DWT).
- SCI took delivery of 2005 WT (2067 GT) Anchor Handling Towing-cum-Supply vessel (120 Ton Bollard Pull).
- SCI took delivery of 1966 DWT (2039 GT) Anchor Handling Towing-cum-Supply vessel m.v. SCI Mukta (80 Ton Bollard Pull).
2013
- Shipping Corporation signed MOU to cooperate for transportation of LNG sourced by GAIL from USA.
2014
- SCI received Best Tanker Operator award - Gateway awards.
2016
- SCI signed MOA with Greatship Global Offshore Services Pte Ltd, Singapore for acquisition of one secondhand Platform Supply Vessel.
2017
- Shipping Corporation took delivery of secondhand Suezmax tanker.
- SCI won 'Training Award' at Lloyd’s List SAMEA Awards 2017.
2019
- SCI awarded 'Most Compassionate Employer of Indian seafarers'.
2021
- SCI collaborated with Inland Waterways Authority of India (IWAI), supported by Ministry of Ports, Shipping & Waterways, in Indian Inland Waterways Transport sector.
2022
- Company received Shipping Company of the Year 2022.
2023
- Company received Maritime Excellence Award - CSR.
2024
- Shipping Corporation of India Ltd received 11th Samudra Manthan Awards 2024.
