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The plan to privatize the Shipping Corporation of India (SCI) has hit a major setback.

The plan to privatize the Shipping Corporation of India (SCI) has hit a major setback.
blog image
Ocean Logistics

The plan to privatize the Shipping Corporation of India (SCI) has hit a major setback.

Interest from bidders in acquiring the Shipping Corporation of India has faded after some of the key selling points of the deal were removed. Some of the big draws of the deal included SCI's cash reserves, its headquarters in South Mumbai, the Maritime Training Institute, and the officers' flats in Mumbai and Kolkata. These non-core assets have now been split off into a separate company, and the core shipping business has transferred ₹1,000 Crore to new company. Now, the shipping giant is left with just an ageing fleet and a unionized workforce, which has made it less appealing to potential buyers.                                                                                                                                                                                                                               


06 Aug 24
blog image
Ocean Logistics

The plan to privatize the Shipping Corporation of India (SCI) has hit a major setback.

Interest from bidders in acquiring the Shipping Corporation of India has faded after some of the key selling points of the deal were removed. Some of the big draws of the deal included SCI's cash reserves, its headquarters in South Mumbai, the Maritime Training Institute, and the officers' flats in Mumbai and Kolkata. These non-core assets have now been split off into a separate company, and the core shipping business has transferred ₹1,000 Crore to new company. Now, the shipping giant is left with just an ageing fleet and a unionized workforce, which has made it less appealing to potential buyers.                                                                                                                                                                                                                               


06 Aug 24
blog image
Ocean Logistics

The plan to privatize the Shipping Corporation of India (SCI) has hit a major setback.

Interest from bidders in acquiring the Shipping Corporation of India has faded after some of the key selling points of the deal were removed. Some of the big draws of the deal included SCI's cash reserves, its headquarters in South Mumbai, the Maritime Training Institute, and the officers' flats in Mumbai and Kolkata. These non-core assets have now been split off into a separate company, and the core shipping business has transferred ₹1,000 Crore to new company. Now, the shipping giant is left with just an ageing fleet and a unionized workforce, which has made it less appealing to potential buyers.                                                                                                                                                                                                                               


06 Aug 24