SCI to exit from break bulk cargo

NEW DELHI, MAR 5: State-run Shipping Corporation of India plans to get out of the break bulk cargo business because of a lack of business potential in the sector. We want to dispose of 12 general cargo ships in the nexttwo to three years and focus on bringing in container and cellular ships and CNG compressed natural gas carriers into our fleet in order to meet the emerging market demand,quot; SCI Chairman and Managing Director P K Srivastava said.

Srivastava said that the SCI board would meet on March 22 to take up the revised programme focusing on expansion of the feeder operation, crude oil and CNG transportation, and coastal services.

SCI would acquire seven to eight crude oil tankers, besides purchasing bulk carrier and cellular shipping for feeder services in the next two and half years.