The Shipping Corporation of India Ltd (SCI) was formed on 2 October 1961. The present authorised capital of the Company is Rs 450 crore and paid up capital is Rs 282.30 crore. The status of SCI has been changed from a private limited company to Public limited from 18 September 1992. The SCI has been conferred 'Mini Ratna' status by the Government of India on 24 February 2000. At present, the Government is holding 80.12 per cent of the share capital and the balance is held by financial institutions, public and others (NRIs, Corporate Bodies, etc.). SCI has been signing Memorandum of Understanding with the Ministry of Shipping and has received "Excellent" rating consistently for 13 years, upto the Year 2003-2004. For the Year 2004-2005 also, SCI's performance on the basis of provisional results is ranked as "Excellent". The SCI has signed the MOU for the financial year 2005-2006 with the Ministry of Shipping, Road Transport & Highways, Government of India on 31 March 2005.
The share of SCI in total Indian tonnage in terms of GT is about 34 percent and in DWT terms about 35 per cent. The SCI's present fleet stands at 84 vessels aggregating about 2.8 million GT (4.9 million DWT) comprising of general cargo vessels, cellular container vessels, crude oil tankers (including combination carriers and VLCC), product tankers, bulk carriers, LPG/Ammonia carriers, acid carriers, passenger vessels and offshore supply vessels. The SCI provides Liner and Passenger Services, Bulk Carrier and Tanker Service and Offshore services and specialised services, etc. Additionally, the SCI also mans and manages 53 vessels aggregating to 0.12 million GT (0.07 million DWT) on behalf of Andaman & Nicobar Islands Administration, Union Territory of Lakshadweep Administration, Oil and Natural Gas Corporation, Geological Survey of India (Ministry of Steel and Mines) and Department of Ocean Development.
The SCI has maintained a consistent track record of profitability and dividend. The turnover for the financial year 2004-05 was Rs. 4018.6 crore and the net profit after tax was Rs. 1419.9 crore. The SCI is a pioneer in India with regard to:
- STS operations for crude, POL and dry bulk cargoes
- Cryogenic operations (LNG/LPG)
- Joint Ventures and other type of collaborations in shipping and
- Shipping consultancy services
The training of personnel acquired a new dimension with the setting up of a Maritime Training Institute (MTI) at Powai, Mumbai. The MTI has extensive modern training facilities so as to ensure that the skill and expertise of the SCI personnel is at international levels. Since June 1988, all the SCI in-house courses are being conducted at the MTI. It is recognised as a branch of the World Maritime University Malmo (Sweden) for conducting International Maritime Organisation (IMO) seminars and short specialised courses in India for the countries of South East Asia and Pacific region. MTI is also recognised as an UNCTAD training centre for shipping management courses. MTI has been awarded the coveted Golden Peacock Award for excellence in Training.
