Millennium Post
Business

Shreyas 1st shipping firm with nationwide container link

In a shipping industry first, Mumbai-based  Shreyas Shipping and Logistics Limited became the first company to link all key ports of India for containerised trade , with the launch of two new services in coastal shipping. Significantly, India now has also a seamless link connecting eastern and western coast for containerised shipping of cargo.
The two new services will commence operations on a fortnightly basis from 15 August and connect Mundra-JNPT-Hazira and Kolkata-Vizag-Chennai-Cochin sectors. 'Coastal shipping is languishing at between 3 per cent to 5 per cent presently but, with big volumes coming in later, we may have to make this a weekly service,' said captain V K Singh, CEO, Shreyas.
He said diversion of 5 per cent of cargo transportation to a waterborne mode can result in annual saving of around Rs 20 billion and reduction of 6 per cent of harmful chemicals and pollutants as sea mode effectively reduces emission of CO2 by 29 gm per tonne per km, as compared to road transportation — according to Ministry of Shipping and Transport.
The current north-south corridor handles around 3 per cent containerized cargo by sea mode and, with the proposed east-west corridor, Shreyas targets achieving 5 per cent containerized cargo shift to the sea mode.
S Ramakishnan, chairman and managing director (CMD) of Shreyas, said the company’s April-June period profit figures witnessed 30 per cent increase to Rs 113.30 crore over corresponding quarter of last year while profit after tax stood at Rs 2.87 crore.
While economic slowdown had led to 4 per cent to 5 per cent decrease in shipping business including volumes and market changes, the launch of the new services –which is already in operation --has ensured first mile and last mile connectivity while also beefing up existing operations by using land-based trailers and rail operations.
While 55 per cent of the company’s business is domestic-based and 45% trans-shipment, the company is looking at increasing domestic figures to 75 per cent and trans-shipment to 25 per cent, he said.
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