SCI eyes terminal management business
The state-run Shipping Corp. Of India Ltd., India’s largest shipping company by fleet, plans to enter the arena of port terminal management as part of a strategy to diversify its business, according to Chairman S.C. Hajara.
In an interview last week with Dow Jones Newswires, Hajara said SCI is in talks with four to five domestic and foreign companies for the venture, as well as another plan to diversify into shipbuilding. Hajara declined to disclose the names of the companies or the structure of the planned ventures.
The plan would likely revolve around the establishment of a joint venture and would not entail an acquisition, the report said.
Tankers and dry bulk carriers make up an overwhelming percentage of SCI's fleet, though it is also India's largest container line. Hajara didn't specify what shipping sector the port management business would target. DP World, PSA International and APM Terminals are all major players in the container terminal management business in India.
SCI eyes terminal management business
