SCI's liner shipping unit loses US$62 million in 2009

THE Shipping Corporation of India (SCI) has registered an operating loss (EBIT) of INR2.8 billion (US$62 million) from its liner shipping business in 2009, reports the Paris-based maritime consultancy Alphaliner.

The carrier's liner shipping operations include its breakbulk and container shipping businesses which saw revenue fall by 11 per cent during the year.

The report added that the Shipping Corporation of India is looking to buy second-hand vessels primarily for its dry bulk and tanker shipping business which remain profitable.

SCI's current financial year ends on March 31.

Source: www.schednet.com