Page 3 - Shipping Corporation Of India

Covid-19: Govt unlikely to meet Rs 2.1 trillion divestment target for FY21

With ambitious FY21 target of Rs 2.1 trn unlikely to be met, govt to push through LIC IPO, privatisation of BPCL or Concor

Shipping Corporation Q4 net profit jumps 83%, income surges to Rs 1,392 cr

Total expenses were higher at Rs 1,284.35 crore during the quarter as against Rs 1,031.48 crore a year ago

Covid-19 impact: Tanker rates boom as demand for oil storage surges

Vessel charges jump up to seven times to $160,000-170,000 per day since February

ONGC gets cracking at Panna-Mukta field, saves Rs 1 cr in shipping costs

Sources in the know said the company will lay a small undersea pipeline soon to completely do away with the requirement of hiring ships for transporting oil to land.

Privatisation may affect SCI's decision-making powers, shipping market

In April 2003, the Cabinet Committee on Disinvestment had decided to suspend any divestment in SCI.

Shipping Industry to witness cost rise of $15 bn over IMO regulations

Companies to pass on entire cost increase to customers

Centre likely to pare stake in BEML to 26% via strategic disinvestment

The government has set an all-time high disinvestment target of Rs 1.05 lakh crore, up from Rs 90,000 crore projected in the Interim Budget 2019-20 in February.

RBSA gets second disinvestment deal; named advisor for Shipping Corp

The government has a 63.75 per cent equity stake in the Indian flag carrier, which will be sold along with management control

Divesting it right

The first deal will clear the path for many more. It will also be the toughest to execute

Privatisation to the rescue: But will it work? Here's how it can be made to

The Modi govt is strong enough to override the resistance that has come from some quarters, but it should be mindful of reputation risks in decisions on complex financial questions, writes T N Ninan

BPCL stake sale a test case for Modi govt's second shot at privatisation

Here are some of the issues on the table

Why India should ensure its privatisation programme is transparent and fair

NDA government recently approved the selling of the entire stake in BPCL, Shipping Corp. of India Ltd. It also approved selling a controlling 30.8% shareholding in Container Corp. of India Ltd

The big push, finally

Strategic sale decision welcome; should have come earlier

Biggest privatisation drive: Here's how govt plans strategic sale of 5 PSUs

The Centre hopes that disinvestment proceeds will make up for some of the revenue shortfall that is expected this year

BPCL scales fresh 52-week high as Cabinet okays divestment, retreats later

Apart from BPCL, the Cabinet also approved divestment of its stake from Shipping Corp, THDC India, and NEEPCO, and most of its stake in Container Corporation of India (CONCOR).

BPCL most lucrative among govt's divestment candidates, say analysts

The company should get good suitors as it is sitting on good infrastructure and has a stable business outlook; the valuation seems attractive

Shipping ministry not opposed to strategic divestment of SCI: Official

The Shipping Ministry in 2017 had opposed the proposal of the strategic divestment of SCI

Clearing the deck: Govt removing legislative barriers to privatisation

The core group of secretaries on disinvestment has recently approved the disinvestment of five public sector undertakings PSUs

BPCL, SCI, Concor rally up to 14% as govt clears divestment proposal

In the past month, SCI (zoomed 77 per cent), BPCL (up 44 per cent) and Concor (up 27 per cent) have outperformed the benchmark S&P BSE Sensex, which gained 4 per cent during the same period.

Legislative hitch to SCI divestment

Any sale of government equity in Shipping Corporation of India (SCI) can happen only after a nod from Parliament, feels the ministry of shipping."If something is done by an Act of Parliament, it should be changed as per an Act of Parliament," a government official told Business Standard. SCI was created through legislation, through nationalisation and amalgamation of private companies. "We are, therefore, examining the legal aspect and only then would go ahead with the proposal (to divest in SCI)," said the official.Thisis similar to the case of the previous NDA government's proposal to privatise Hindustan Petroleum Corporation and Bharat Petroleum Corporation, in 2003. The Supreme Court had then ruled out privatisation in these companies without prior Parliament approval -- these entities were created by Acts of Parliament.Government think tank NITI Aayog has proposed strategic sale of about 26 per cent stake in SCI, which could fetch Rs 960 crore to the exchequer under current ...