Shipping Corporation Sale Faces Collapse
PORTS & SHIPPING

Shipping Corporation Sale Faces Collapse

The sale of the Shipping Corporation of India (SCI) is on the verge of collapse as potential bidders are reported to be losing interest. The planned divestment of the state-owned enterprise, a significant player in India?s shipping sector, has encountered hurdles, jeopardizing its successful completion.

Initial enthusiasm for the privatization of SCI has waned, primarily due to concerns over the company's financial health and the challenging market conditions. Potential bidders have cited uncertainties related to the corporation's debt levels and the potential liabilities associated with the sale as major deterrents.

The Indian government, which has been seeking to privatize SCI as part of its broader disinvestment strategy, faces mounting pressure to address these concerns and revive interest. The sale was intended to streamline operations, boost efficiency, and inject new capital into the company to enhance its competitive position in the global shipping market.

Efforts are underway to reassess the terms of the sale and attract renewed interest from investors. However, with the current trajectory, the future of the divestment process remains uncertain. The outcome will significantly impact India?s shipping industry and its strategic goals for maritime logistics and trade.

The sale of the Shipping Corporation of India (SCI) is on the verge of collapse as potential bidders are reported to be losing interest. The planned divestment of the state-owned enterprise, a significant player in India?s shipping sector, has encountered hurdles, jeopardizing its successful completion. Initial enthusiasm for the privatization of SCI has waned, primarily due to concerns over the company's financial health and the challenging market conditions. Potential bidders have cited uncertainties related to the corporation's debt levels and the potential liabilities associated with the sale as major deterrents. The Indian government, which has been seeking to privatize SCI as part of its broader disinvestment strategy, faces mounting pressure to address these concerns and revive interest. The sale was intended to streamline operations, boost efficiency, and inject new capital into the company to enhance its competitive position in the global shipping market. Efforts are underway to reassess the terms of the sale and attract renewed interest from investors. However, with the current trajectory, the future of the divestment process remains uncertain. The outcome will significantly impact India?s shipping industry and its strategic goals for maritime logistics and trade.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?