SCI, Emirates and Taiwan shipping lines form consortium

New Delhi, Oct 30 (UNI) Public sector shipping major Shipping Corporation of India (SCI) has decided to participate in the new 'Hyper Galex Service' container operations in consortium with Emirates Shipping Lines and TS Lines of Taiwan.

The port rotation of the proposed service will commence from Xingang and sail through Qingdao, Shanghai, Ningbo, Hong Kong, Singapore, Port Kiang, Colombo, Nhava Sheva, Mundra, Jebel Ali, Dammam, Abu Dhabi, Jebel Ali, Cochin, Singapore and Hong Kong before terminating its journey at Xingang.

The total voyage time will be of 42 days.

The SCI, which has already informed the Bombay Stock Exchange (BSE) about its decision, said it would be a weekly service commencing from November 11 from Xingang.

As part of the consortium arrangement, the company will be operating one vessel.

The participation of the SCI in the consortium is to give a fillip to its overseas operations.

Last week, the government had approved SCI's acquisition of two cellular container vessels of 4300 TEU (Twenty feet Equivalent Units) each at a cost of Rs 606.74 crore.

The acquisition will lead to replacement of the SCI's in-chartered tonnage deployed on its India-UK Continent service, insulating it from the fluctuations of the charter market.

In addition, it will augment the share of Indian Lines in the country's overseas trade.

UNI SKS PKS RN1559