The Great Eastern Shipping Company Limited

Type

Public

Traded as

BSE: 500620 NSE: GESHIP

Industry

Shipping

Founded

1948 [1]

Headquarters

Mumbai, Maharashtra

Key people

K. M. Sheth, Chairman Bharat K. Sheth, MD [2]

Revenue

2,245.40 crore (US$406.42 million)[3]

Website

www.greatship.com

Overview: The Great Eastern Shipping Company Ltd. (G E Shipping)

Indias largest private sector shipping company Experience and expertise spanning over 6 decades.

 An enviable global reputation. Creating value for customers. The company has two main business : shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India) Limited. The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV. History:

G E Shipping owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses. In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues. From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favour, thereby laying a path for others to follow. Founders The founding fathers of G E Shipping were great visionaries who excelled despite all odds and laid the foundation of - The Great Eastern Shipping Co. Ltd. The Company was promoted by Mulji (Sheth) brothers and Bhiwandiwalla family.

Maneklal Ujamshi Mulji Maneklal Ujamshi Mulji was involved in textile business and later, in the establishment of an efficient network for the distribution of sugar. He was a man known for his organizing capability. His role in the efficient distribution of sugar along with his brother Jagjivan had earned him the sobriquet of 'Sugar King'. He supported and helped Jagjivan, in establishing G E Shipping in its

initial years. Ardeshir Hormusji Bhiwandiwalla Jagjivan Ujamshi Mulji Vasant J. Sheth

Founders

The foundin fathers of G Shipping w great vision who excelle despite all and laid the foundation The Great Eastern Shipping C Ltd.

The Compa was promo by Mulji (Sh brothers an Bhiwandiw family.

Manekl Ujamshi M

Maneklal Ujamshi Mu was involve textile busin and later, in establishm an efficie network for distribution sugar. He w man known his organiz capability role in the efficient distribution sugar along

his brother Jagjivan ha earned h sobriquet o 'Sugar King supported a helped Jag in establis G E Shippi its initial ye

Ardesh Hormusji Bhiwandi Jagjiva Ujamshi M Vasant Sheth

The Great Eastern Shipping Company Limited (BSE: 500620, NSE: GESHIP) is India's largest private sector shippingcompany which mainly transports liquid, gas and solid bulk products. The company has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business; services the oil companies in carrying out offshore exploration and production activities through its wholly owned subsidiary Greatship (India) Limited. The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV. G E Shipping owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses. In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues. From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favour, thereby laying a path for others to follow. As of 2007 it had some 944 employees including sailing staff.
[4]

It is listed on India's two main stock exchanges i. e. the Bombay Stock

Exchange and the National Stock Exchange.

Business overview: G E Shipping is India's largest private sector shipping service provider enjoying a formidable presence in the international maritime industry. The shipping business operates under two main businesses: dry bulk carriers and tankers. A sizeable part of the tankers enjoy approvals from oil giants like SHELL, BP, EXXONMOBIL, CHEVRON TEXACO, TOTALFINA to name a few. Backed by an enviable clientele comprising industry leaders, international oil companies and governments who vouch for its services, the division has earned the status of being the most

preferred shipping service provider. With a pulse on the global market and a thorough understanding of the ever-evolving market needs, the division is well-equipped to anticipate the demands of its clients and to deliver on its commitments, successfully and satisfactorily. The company has been certified to ISO 9001: 2000 standard by the governing body Det Norske Veritas (DNV).

Fleet:

S.NO.

VESSEL NAME

DWT

GRT

BUILT

LOA (mtrs)

BEAM (mtrs)

DRAFT (mtrs)

Crude Oil Carriers 1 2 3 4 5 6 7 8 9 JAG LALIT JAG LOK JAG LYALL JAG LATA JAG LEELA JAG LAXMI JAG LAVANYA JAG LATEEF JAG LAKSHITA 158,344 158,280 110,531 105,716 105,148 105,051 105,010 147,080 147,093 81,396 81,396 61,315 57,508 58,374 58,374 58,374 80,870 80,870 2005 2005 2006 2003 1999 1999 2004 2000 2000 274.00 265.16 244.50 244.00 242.98 242.98 234.88 274.22 274.22 48.00 48.00 42.00 42.03 42.04 42.04 42.00 47.80 47.80 17.07 17.07 15.50 14.91 14.77 14.77 14.75 16.02 16.02

Product Carriers 10 11 12 JAG APARNA JAG AMISHA JAG AABHA 74,859 74,500 74,841 42,403 42,403 42,403 2009 2009 2008 228.00 228.00 228.00 32.25 32.24 32.24 14.30 14.30 14.30

13 14 15 16 17 18 19 20 21 22

JAG AANCHAL JAG PRAKASH JAG PUSHPA JAG PRERANA JAG PADMA JAG PAHEL JAG PANKHI JAG PREETI JAG PARWAR JAG PRACHI

74,811 47,400 47,400 47,400 47,172 46,319 46,273 29,139 29,998 28,610

42,403 29,909 29,909 30,028 28,443 27,627 27,627 20,302 19,925 18,625

2008 2007 2007 2007 1996 2004 2003 1981 1988 1991

228.00 183.00 183.00 183.00 182.05 182.85 182.85 170.68 174.91 178.96

32.25 32.20 32.20 32.20 32.20 32.22 32.20 27.00 26.60 25.30

14.30 19.10 19.10 12.43 12.67 12.21 12.21 10.21 10.16 11.00

Dry Bulk Carriers 23 24 25 26 27 28 29 30 31 32 JAG ARJUN JAG AARATI JAG ADITI JAG ARYA JAG ARNAV JAG RISHI JAG RANI JAG RAHUL JAG RATAN JAG RAVI 164,796 80,325 80,325 80,480 71,122 56,719 56,719 52,364 52,179 45,342 85,845 43,736 43,790 43,843 38,265 33,036 33,036 30,011 30,477 26,322 1996 2011 2011 2011 1995 2011 2011 2003 2001 1997 288.11 229.00 229.00 229.00 224.90 189.99 189.99 190.00 190.00 189.95 44.01 32.24 32.24 32.24 32.20 32.26 32.26 32.26 32.26 32.20 17.63 14.47 14.45 14.46 13.63 12.80 12.80 12.02 12.32 10.92

32 Ships aggregating 2.55 Mn dwt

Fleet:

SUBSIDIARIES Greatship (India) Limited Greatship (India) Limited (GIL) has completed 6th year of its successful operations. The Company, now one of Indias largest offshore oilfield services providers, has recorded steady financial performance for this year, as in the last 5 years. GIL has recorded a profit after tax of ` 90.19 crores on a standalone basis and ` 220.23 crores on a consolidated basis for the year ended March 31, 2012 as compared to ` 118.38 crores and ` 215.71 crores respectively for the year ended March 31, 2011. The consolidated net worth of GIL for financial year 2012 was ` 2457.03 crores as compared to ` 2031.56 crores for financial year 2011 on a consolidated basis. Your Company has till date invested total of ` 1714.43 crores by subscribing to 10.92 crores equity shares totaling in value to ` 1268.56 crores and 14.86 crores non-convertible preference shares totaling in value to ` 445.87 crores. Your Companys holding is 98.11% of the total equity share capital of GIL. GIL, alongwith its subsidiaries, is currently owning/operating 4 Platform Supply Vessels (PSVs), 9 Anchor Handling Tug cum Supply Vessels (AHTSVs), 3 Multipurpose Platform Supply & Support Vessels (MPSSVs), 3 Multipurpose platform support vessels capable of Remotely Operated Vehicles operations (ROVSVs) and 2 Jack up Rigs. GIL and its subsidiaries also have

an order book of three ROVSVs and one 350 feet Jack up Rig. During the year, the shipbuilding contracts for 2 Multipurpose Supply & Support Vessels were cancelled. During the year, GIL granted 189600 stock options (net of cancelled/forfeited) under various Employee Stock Options Schemes. GIL has the following wholly owned subsidiaries : a) Greatship Global Energy Services Pte. Ltd., Singapore b) Greatship Global Offshore Services Pte. Ltd., Singapore c) Greatship Global Holdings Ltd., Mauritius d) Greatship Subsea Solutions Singapore Pte. Ltd., Singapore e) Greatship Subsea Solutions Australia Pty. Limited, Australia f) Greatship (UK) Limited, United Kingdom g) Greatship Global Offshore Management Services Pte. Ltd., Singapore Greatship DOF Subsea Projects Private Limited, Mumbai, erstwhile wholly owned subsidiary of GIL was struck off from the Registrar of Companies under the Fast Track Exit mode on 30.12.2011. Other subsidiaries Apart from GIL and its subsidiaries, your Company has the following wholly-owned subsidiaries : a) The Great Eastern Shipping Co. London Ltd. b) The Greatship (Singapore) Pte. Ltd.

Safety & quality ISO 9001:2008, ISO 14001:2001, OHSAS 18001:2007 certified
At G E Shipping, Safety takes precedence and is followed and implemented, strictly and religiously. The term Safety entails safety of not just life and cargo but also encompasses protection of the environment and maintenance and upgradation of vessels at regular intervals. The company has a proactive safety culture in place. Initiatives to integrate and implement strict safety measures for protection and preservation of environment has helped to uphold company's non-compromising attitude towards safety. Mr. I. N. Bose is the designated person ashore under ISM Code as well as the management representative under ISO Standard.

Human Resources

Corporate Functions
Mr. Jayesh Trivedi (Vice President - (Secl. & Legal) & Company Secretary) Mr. Trivedi has been with the company since 2000. He is a Company Secretary and Law graduate by qualification. He heads the Legal and Secretarial department of the company. Prior to joining GE Shipping, he has worked with DCW Home Products Ltd. and Synthetics & Chemicals Ltd. Mr. G. Shivakumar (Chief Financial Officer)
He joined us as a management trainee immediately after completing his postgraduation in management from IIM Ahmedabad in 1990, and is currently the Chief Financial Officer. His diverse exposure within the company includes stints in key functions like Treasury, Corporate Finance, Human

Resources, and Strategic Planning, and was also as CFO of our subsidiary Greatship (India) Limited. Mr. Salil Raghavan (Head Human Resources) An Engineer and MBA from XLRI, Salil joined GE Shipping in 2005. He heads the Human Resources department of the company. Prior to joining us he has worked with companies like Marico, BPL Mobile, BILT and TVS. Mr. Anjan Deb (Head Information Technology) Anjan is a post graduate in Management and has been in the Information Technology domain for more than 2 decades. He has been with the company since 2008 and he heads the IT function for the company. Prior to joining us he was associated with companies including HLL, Lehman Brothers, and ATOS Origin.

Business Functions
Mr. Tapas Icot (President- Shipping)
Mr. Icot is a Commerce graduate with a post graduation in Management studies. He joined the company in 1991, as a Manager in the Claims department and thereafter has been instrumental in key roles including creating a Strategic Planning Cell and heading the Commercial function of the company. He is now the Head of Shipping Business. He started his career with United India Insurance Co. Ltd. before moving into the shipping industry. He has had stints with India Steamship and Essar Shipping before joining GE Shipping. He is an Associate of the Insurance Institute of India and a Fellow of the Indian Council of Arbitration.He has also completed his Masters in Financial Management from Mumbai University. Mr. Reginald Sequeira (Head - Bulk Carrier Division) Mr. Sequeira is a management graduate from XLRI and has around 30 years of industry experience before joining G E Shipping in 2006. He heads the Bulk Carrier Division of the company. Prior to joining us he has worked with companies like Shipping Corporation of India, Chowgule Steamships and Noble Chartering. Mr. David Birwadkar (Vice President - Fleet Management) A Marine Engineer from Mumbai Port Trust, he joined us in 2006 and currently heads Fleet Management (Technical, Procurement and Fleet Personnel). As a marine engineer he has sailed with SCI and subsequently with Wallem, where he rose to the position of Chief Engineer. He held key positions in Technical function with Anglo Eastern Ship Management and Essar Shipping. Capt. Prakash Correa (General Manager - Tanker Operations, International) He is a Master Mariner who joined us in 2004 to handle the operations of the tankers that are in the international trade. Including sea-time, he has experience of about 30 years in various capacities in shipping companies like Transworld Group and Varun Shipping.

Mr. Somesh Kapila (Head Tanker Division)

An MBA from IIM-Lucknow, Mr. Kapila joined Great Eastern Shipping in 1995. Prior to joining us, he was employed with Shipping Corporation of India. He heads the Tanker Division of the company. Mr. I. N. Bose (General Manager Quality Safety & Training) Mr. Bose is a Marine Engineer from DMET, with about 12 years of sea career including 5 years as a Chief Engineer. He has around 22 years of rich experience in Classification, survey and audits of ships. He joined us in 2007 and has been the Head of Quality, Safety and Training, since then. Prior to joining us he has worked with the Indian Register of Shipping. He is the "Designated Person Ashore" (DPA) under ISM code as well as "Management Representative" (MR) under ISO standard.

Capt. P K Dhyani (General Manager Coastal Operations)

Capt. Dhyani is a Master Mariner who has been with the company over 3 decades and began his sailing career with us. During his sailing career with us he took over as Captain and then moved on to join the shore office of the company. Currently he heads the Coastal - Operations function at GE Shipping.

Acquisition and Sales 2012-13 Sales Vessels sold in FY 2012-13 Tankers Vessels Jag Viraj Jag Pradip Year Built 1991 1996 Total : Vessels - 2 , DWT(m.t.) - 63,261 Acquisition and Sales 2011-12 Acquisition Vessels acquired in FY 2011 12 Dry Bulk Vessels Jag Arya Jag Aditi Jag Rani Year Built 2011 2011 2011 DWT (m.t.) 81,000 80,700 56,719 Vessels Tankers Year Built DWT (m.t.) DWT (m.t.) 17, 577 45,684

Sub Total : Vessels -3, DWT-218419

Sub Total : Vessels -0 , DWT (m.t.) - -

Total : Vessels -3, DWT-218419 Acquisition and Sales 2010-11 Acquisition Vessels acquired in FY 2010 - 11 Dry Bulk Vessels Jag Aarati Year Built 2011 DWT (m.t.) 80,700 Vessels Jag Prachi Tankers Year Built 1991 DWT (m.t.) 28,610

Jag Rishi

2011

57,000 Sub Total : Vessels -1 , DWT (m.t.) 28,610

Sub Total : Vessels -2 , DWT(m.t.) 137,700

Total : Vessels -3 , DWT (m.t.) - 166,310 Acquisition and Sales 2009-10 Acquisition Vessels acquired in FY 2009 10 Dry Bulk Vessels Year Built DWT (m.t.) Vessels Jag Amisha Jag Aparna Jag Padma Tankers Year Built 2009 2009 1996 DWT (m.t.) 74,500 74,859 47,172

Sub Total : Vessels - , DWT(m.t.) -

Sub Total : Vessels - 3, DWT (m.t.) 196,172

Acquisition and Sales 2008-09 Acquisition Vessels acquired in FY 2008 09 Dry Bulk Vessels Year Built DWT (m.t.) Vessels Jag Aabha Jag Aanchal Tankers Year Built 2008 2008 DWT (m.t.) 74,500 74,500

Sub Total : Vessels - , DWT(m.t.) -

Sub Total : Vessels - 2, DWT (m.t.) 149,000

Total : Vessels - 2, DWT (m.t.) - 149,000

Acquisition Vessels acquired in FY 2007 - 08 Dry Bulk Vessels Year Built DWT (m.t.) Vessels Tankers Year Built DWT (m.t.)

Jag Ratan Jag Riddhi -

1994 1997 -

73,350 47,240 -

Jag Prerana Jag Lakshita Jag Lateef Jag Pushpa

2007 2000 2000 2007

47,400 147,000 147,092 47,400

Sub Total :Vessels - 2, DWT(m.t.) 99,419

Sub Total : Vessels - 4, DWT (m.t.) 388,892

Total : Vessels - 6, DWT (m.t.) - 488,311 Acquisition and Sales 2006-07

Acquisition Vessels acquired in FY 2006 - 07 Dry Bulk Vessels Jag Akshay Jag Arjun Year Built 1994 1996 DWT (m.t.) 73,350 164,796 Vessels Jag Panna Jag Layak Jag Parwar Jag Payal Jag Prakash Tankers Year Built 2007 1996 1988 2007 2007 DWT (m.t.) 37,154 147,834 29,998 37,159 47,400

Sub Total : Vessels - 2, DWT(m.t.) 238,146

Sub Total : Vessels - 5, DWT (m.t.) 299,545

Total : Vessels - 5 , DWT(m.t.) - 412,240 Acquisition and Sales 2005-06 Acquisition Vessels acquired in FY 2005 - 06 Dry Bulk Vessels Jag Ravi Jag Rahul Jag Reena Year Built 1997 2003 2000 DWT (m.t.) 45,342 52,364 45,659 Sub Total : Vessels - 2 , DWT(m.t.) Vessels Jag Lyall Jag Lalit Tankers Year Built 2006 2005 DWT (m.t.) 110,531 158,344

Sub Total : Vessels - 3 , DWT(m.t.) -

143,365

268,875

Total : Vessels - 5 , DWT(m.t.) - 412,240 Acquisition and Sales 2004-05 Acquisition Vessels acquired in FY 2004 - 05 Dry Bulk Vessels Jag Radha Jag Rupali Year Built 1983 1983 DWT (m.t.) 35,676 37,092 Vessels Jag Labh Jag Pahel Ardeshir H Bhiwandiwalla Jag Lok Sub Total :Vessels - 2 , DWT(m.t.) 72,768 Tankers Year Built 1988 2004 1992 2005 DWT (m.t.) 96,551 46,319 265,955 158,280

Sub Total : Vessels - 4 , DWT(m.t.) 567,105

Acquisition and Sales 2003-04 Acquisition Vessels acquired in FY 2003 - 04 Vessels acquired in FY 2003 - 04 Tanker Vessels Jag Anjali Jag Lata Jag Pankhi Jag Leena Jag Lamha Vasant J Sheth Jag Laila Year Built 1986 2003 2003 1985 1987 1990 1987 DWT (m.t.) 66,203 105,716 46,273 95,007 98,214 2,61,167 96,967

CSR:
Vasant J Sheth Memorial Foundation
The Vasant J. Sheth Memorial Foundation is a registered charitable trust, dedicated to promoting education, welfare, health, conservation and publishing in maritime related areas. Founded in 1993 in memory of the Indian shipping pioneer, Vasant J. Sheth, the Foundation has funded and supported over 70 projects. To achieve its objectives, the Foundation works with human and capital resources from different sections of society. Projects range from scholarships, health initiatives, heritage research, environment conservation and protection and disaster relief programmes. In its 18th year now, the Foundation has emerged as a pioneering maritime institution in India.

Study Of Behaviour of Economic Parameter

Production:
Year 2008-09 2009-10 2010-11 2011-12 2012-13 production(lakh tons) 2,594.57 2836.28 1914.27 1,376.25 1709.62

Bar graph representing production:

production(lakh tons)
3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 production(lakh tons)

Result: production increases and decreases in successive years

Year 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

Profit(in lakhs) 1642.3 1114 1765.3 1971.9 2272.9 4711.3 8087.9 8386.1 8833.1 13568.1 13848.2 3957.5 2664.6 1433.4

Line graph to represent profit:

16000 14000 12000 10000 8000 6000 4000 2000 0 Series1

Bar Graph representing Profit:

14000 12000 10000 8000 6000 4000 2000 0 Series1

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

Result: Profit shows steep growth till 2008-09 but from 200910 company makes less profit in comparison to the previous ones

2011-12

Price:
Year 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 Price 8810.2 9289.6 9146.4 10806.8 11724.3 9554.7 13519.4 20492 19347.7 19975.1 25945.7 28362.8 19142.7 13818.4 17096.2

30000 20000 10000 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

30000 20000 10000 0 1 2 3 4 5 6 7 8 Year 9 10 11 12 13 14 15

20000-30000 10000-20000 0-10000

Result: price shows non-uniform pattern Wages:

Year 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Wages 77.77 87.37 117.21 115.6 162.74 176.82 208.07 182.15 185.1 174.18

Line graph representing wages Of the company:

Wages
250 200 150 100 50 0 Wages

Bar graph representing wages in a more clear manner:

Wages
250 200 150 100 50 0 Wages

Result: wages almost increases every year Investment:

Year 1998-99 1999-00 2000-01 2001-02 2002-03 Investment
20307.2 21456.6 21334.6 20123.7 21868

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

22704.4 30312.6 42687.9 42553.4 52656.8 66579.7 79947.7 90400.1 88743 92230.3

Line graph to represent Investment:

100000 90000 80000 70000 60000 50000 40000 30000 20000 10000 0 Series1

2007-08

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2008-09

2009-10

2010-11

2011-12

Result: Investment shows increasing pattern

Productivity:
Year 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 % increase in productivity
7.72 6.98 7 11.1 15.2 11.79 13.88 15.03 16.55

2012-13

2007-08 2008-09 2009-10 2010-11 2011-12

18.04 18.77 22.36 17.65 19.73

Line Graph representing % increase in productivity:

% increase in productivity
25 20 15 10 5 0 % increase in productivity

2009-10

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2010-11

Result: Productivity shows increasing pattern

Shipping Corporation of India

2011-12

Shipping Corporation of India

Type

State-owned enterprise Public (BSE: NSE: SCI)

Industry

Shipping

Founded

Bombay, 1961

Headquarters

Corporate Centre, Madame Cama Road, Mumbai 400 021 India

Key people

Sabyasachi Hajara (Chairman andManaging Director)

Revenue

3,902.69 crore (US$706.39 million)[1]

Website

www.shipindia.com

The Shipping Corporation of India (SCI) is a company owned by the Government of India based out of Mumbai that operates and manages vessels that services both national and international lines.

History

SCI Head Office at Nariman Point Mumbai

SCI was established on October 2, 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Two more shipping companies, Jayanti Shipping Company and Mogul Lines Limited, were merged with SCI in 1973 and 1986 respectively.
[3]

SCI started out with 19 vessels. It gradually metamorphosed into a conglomerate having 83 ships of 4.6 million metric tons deadweight (DWT) with interests in 10 different segments of the shipping trade.

About SCI

About SCI

The Shipping Corporation of India was established on October 2nd, 1961, by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Starting out as a marginal Liner shipping Company with just 19 vessels, the SCI has today evolved into the largest Indian shipping Company. The SCI also has substantial interests in various segments of the shipping trade. SCIs owned fleet includes Bulk ca rriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the SCI today has a significant presence on the global maritime map. As the countrys premier shipping line, the SCI owns and operates around one -third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades.

In view of the demand from Indian trade, the SCI has diversified into a large number of areas. The SCI is today the only Indian shipping Company operating: break-bulk services, international container services, liquid/dry bulk services, offshore services, passenger services. In addition, the SCI mans and manages a large number of vessels on behalf of various government departments and organizations.

The SCI has immensely contributed to the growth of Indias EXIM trade and the national exchequer, by being a net earner/saver of valuable foreign exchange.

Over the years, SCI has been a lifeline for the country in times of emergency and distress, by ensuring continued and uninterrupted supply of crude oil, which drives the countrys economy. Liberalization and globalization of the Indian economy has presented the SCI with a suite of

growth and diversification opportunities. The SCIs growth has been additionally spurred on by the presence of a modern, young and diversified fleet, operated by a large pool of well trained and experienced manpower, both onshore and at sail.

As a profitable commercial venture of the Government of India, the SCI has an excellent track record of profitability since its inception. The SCIs annual performance ha s consecutively been rated excellent for a record 18 times, under the Memorandum of Understanding (MoU) signed with the Government of India.

The Government of India has conferred Navratna status to SCI on 01.08.2008 - enhanced autonomy and delegation of powers to the Company towards capital expenditure, formation of Joint Ventures, mergers, etc.

Continued profitability of the SCI is been due to a slew of innovative and timely strategies and measures adopted by the SCI management. Amongst these include, inter alia, judicious and optimal utilization of available tonnage, by deploying it in the most remunerative sectors; commencement of new services in niche markets; identification and expeditious disposal of value destroyers or non-performing assets; forging alliances with leading market players to enhance cargo; availability and apportioning of expenses; and administrative cost cutting. The SCI takes pride in being a responsible and socially committed owner, placing greater emphasis on the safety of life, vessels, cargo and the environment it operates in. Today, the SCI has evolved into a highly quality and safety conscious organization.

Not surprisingly, the SCI has received numerous awards and accolades from various national and international organizations for excellence in customer satisfaction, operational efficiencies, human resource training and emergency preparedness.

In tune with the global trend for specialization and the premium placed on core competencies, the SCI has charted a definitive course of action for the future. Thrust areas for growth and diversification focus on energy transportation, including a sunrise segment like transportation of LNG and containers. The SCI forays into new thrust areas could either take the form of direct capital investment or by forging strategic and symbiotic alliances with significant market players in the market.

The SCI has heralded Indias entry into the specialized field of LNG transportation, by acquiring a stake in the two Indian LNG transportation agreements contracted till date, after a global bidding process. SCI is the only Indian shipping company engaged in transportation of LNG, a vital fuel for Indias power plant and chemical / petrochemical industry. For the same purpose, SCI has formed three Joint Ventures with one vessel each. On two of these LNG vessels, SCI is managing onboard operation and technical management and the remaining vessesl is fully manned by SCI.

The SCI possesses all the ingredients essential for emerging as a truly world class international shipping Company. The endeavour of the management is to facilitate the release of boundless energy and initiative streams, which will be channelled for the growth and prosperity of the Company and the nation.

Recent contracts
On 17 September 1991 SCI signed Contracts with STX Shipbuilding Co. Ltd. of South Korea for building and delivering six Newbuilding LR-I Product Tankers. This is the largest shipbuilding contract in terms of value, signed by SCI since its inception. On 14 November 2006, SCI signed Contracts with Hyundai Samho Heavy Industry, of South Korea for building and delivering two Newbuilding 4,400 TEU Container Vessels. The deliveries of these vessels are scheduled by the end of November 2008.

Fleet
The SCI operates a fleet of 84 vessels (January 2006) totaling 4.93 million DWT. It also manages 53 vessels (January 2006) totaling 63000 DWT on behalf of various Government Departments and other organizations

Services
Liner and passenger services Bulk carrier and tanker services Offshore services Liquefied Natural Gas

Major clients
Indian Oil Corporation Ltd. Bharat Heavy Electricals Ltd. Steel Authority of India Ltd. Oil & Natural Gas Corporation Ltd. Reliance Industries Ltd. Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Ltd. British Petroleum British Gas Shell

Services:

Tankers

The SCI is the largest Tanker owner in India, with a well-diversified fleet of crude Tankers consisting of all sizes: MR, LR-I, LR-II, Aframax, Suezmax and VLCC Tankers. The SCI's Tanker tonnage paralleled the growth of Indian oil industry since the mid-1970s. Till late 1990s the tonnage predominantly catered to Indian crude and product transportation. This was done keeping in view the specific constraints of terminals/ports in India and infrastructural limitations like draft, availability of tankages, length/capacity of jetties, etc. The SCI's Tanker Commercial Department looks after scheduling and deployment of Tankers for feeding crude to various Indian oil refineries. Lighterage operations on the east and west coasts are also undertaken, to facilitate quick turnaround of Tankers, which otherwise cannot call on ports due to port restrictions/limitations. The department also ensures commercial deployment of in-chartered tonnage, to meet its obligations of lifting cargo under the Contract of Affreightment (COA).

Bulk Carriers
The SCI is presently the major Bulk Carrier operator in India, with an assortment of 12 Bulk Carriers, spanning the Handymax and Supramax sizes of vessels. The average fleet age of the Bulk Carriers is about 8 years, but individual vessels range from 0 years to 25 years in age. At the time of acquisition, the vessels had been ordered after carefully considering the need and utility of these vessels for India-centric trade. However, there is no physical constraint for these vessels cross-trading worldwide. They carry a variety of cargo like iron ore, coal, coke, grain, fertilizer, steel products, plywood, bauxite, etc.

Offshore
Offshore Services Department provides following services to offshore industry:

1) SCI owns a fleet of 10 No.70 T Bollard Pull and with 5400 BHP Anchor HandlingTowincum-Supply Vessels (AHTSVs).The vessels are retro fitted with Dynamic Positioning System (DP I), Fresh Water Generator, partial UKOOA C compliant.Out of 10 AHTSVs,5 vessels are fitted with Fire fighting System (FIFI I) whereas other 5 vessels are without FIFI I system. Presently, all the 10 AHTSVs are on charter to ONGC.

These vessels offer following services: Towing & Anchor handling operations in Offshore. Carriage of men and materials ( fuel oil, bulk cement and byrite, deck cargo, refer cargo, pot water, drill water etc. ) between base and offshore installations as well as between Offshore installations. Carry out standby and rescue operations in offshore, if required.

Carry out routine surveillance in offshore for safety and security reasons. Standby at SBM Tankers in Offshore. Carry out Fire Fighting duties by FIFI vessels. 2) SCI also offers Operations, manning, maintenance and Management (O&M) services of following vessels owned by Indian E&P Company, Oil & Natural Gas Corporation Ltd. (ONGC):

Seismic Survey Vessel Well Stimulation Vessel Multi Support Vessel Diving Support Vessel Geotechnical Vessel Offshore Supply Vessels. 3) SCI has ambitious plan for expansion of offshore fleet with versatile vessels and has already on order following vessels :

4 Nos. 80 T AHTSVs with DP I, FIFI, UKOOA C partial compliance, etc. which are on order with Bharati Shipyard. The vessels are expected to be delivered in 2010-11. 2 No. 120 T AHTSVs of Aker AH 03 Design, with DPS I, FIFI, UKOOA C partial compliance, etc. which are on order with Cochin Shipard Ltd.,. The vessels are expected to be delivered in 2011-12.

2 Nos. Platform Supply Vessels of CD design on order with Cochin Shipyard Ltd. The vessels are expected to be delivered in 2011-12.

Shipbuilding Consultancy
The SB & S department also provides Technical Consultancy assistance to various organizations for their Tonnage Acquisition Programme. The organizations include: The Andaman & Nicobar Administration, The Union Territory of Lakshadweep, Geological Survey of India, Directorate General of Lighthouses & Lightships and Department of Ocean Development of the Government of India. Consultancy assistance rendered for newbuilding vessels includes: 1. Project Viability and Feasibility: market study, obtaining statuary approvals and selection of ship-building yards through international tendering procedures. 2. Design Consultancy: preparation of technical specifications, preliminary GA plan, preliminary machinery layout plan and preliminary accommodation layout plan. 3. Project Management: preparation of ship-building contract, monitoring of finances during construction, delivery protocols and related documents, and post-delivery and guarantee matters. 4. Site Supervision: plan approval, ship-building construction supervision at yard, test & trial supervision, delivery and acceptance of vessels.

Consultancy assistance rendered for acquisition of second-hand ships includes: Identifying the type and size of vessels, receipt and evaluation of offers, inspection of class records, physical inspection of vessels, processing specific proposals for owners/Government approval and taking delivery of the vessels etc. Clients can expect world class services from the SCI, making use of the latest technology available and the vast talent pool comprising experts in shipping industry.

Container
SCIs cellular container services have now matured from their infancy stage to adult stage. 'M.V. LAL Bahadur Shastri' along with M. V. Rajiv Gandhi & M.V. Indira Gandhi have completed 16 years in service. With the induction of two 4400 TEU vessels namely M.V. SCI CHENNAI and M.V. SCI MUMBAI, our container vessel strength now stands increased to five vessels. In addition, we have in-chartered state of art cellular container ships to augment our fleet strength. Operating container ships flying different flags and manned by crews of different nationality has broadened SCIs outlook and has benchmarked its activities with the best in the industry by successfully bridging the gap between the global operators and SCI on proactively innovating, adapting, modernising its organizational culture and work practices. The focus of SCI and especially CONOPS department has always been to be alive to the new challenges in the industry and adopt the best industry practices and provide its business partners and clientele safe, reliable and economic shipping services, which is an integral part of our vision objective. During the last year, we have made conscious efforts to become even more eco-friendly by prudent fuel management and operational scheduling of ships and promoting coastal movement of containers along the Indian coast and we have successfully expanded our coastal business & today we are one of the major coastal operators.

Passenger Services
Domestic Passenger-cum-Cargo Services In addition to international operations, the SCI, with its two owned Passenger-cum-Cargo vessels and 30 managed vessels, operates domestic passenger and cargo transportation services between the mainland, Andaman & Nicobar group of islands, on behalf of the Government of India. The services offered include: Andaman & Nicobar Islands Administration - 25 vessels comprising Passenger vessels and (Passenger-cum-Cargo vessels)

Break Bulk
The SCI is the only Indian shipping company providing overseas Liner Break-bulk services to the Indian trade. The SCI arranges carriage of Break-bulk cargoes on a

space charter basis from various regions across the globe including USA and Far East. This is offered for imports and exports in & out of India, which include shipments The SCI continues to operate its India-UK Continent Break-bulk service regularly from European ports to India jointly with Rickmers Linie, on a space sharing basis on their vessels. The general port rotation for this service is: Antwerp - Hamburg - Genoa - Mumbai - Chennai of Over-Dimensional Cargoes (ODC)/ Project cargoes/Heavy Lift cargoes/IMO Class I Cargoes and containers.

Divisions:

Bulk Carriers & Tankers

To serve India's shipping needs primarily in energy transportation through movement of all types of dry bulk, liquid and gaseous cargoes providing world-class service to the clients at optimum costs mindful of environmental and societal obligations while concurrently maintaining a significant logistic support to worldwide industrial requirement by participation in cross-trades and to this end, strive for strategic partnerships to harness synergies, fleet upgradation and expansion.

Liner & Passenger

Mission To provide timely, affordable and quality Liner cargo service to the Indian Exim trade and to man, maintain and manage the vessels entrusted to the Division to the full and complete satisfaction of the respective owners.

Technical & Offshore

Mission To provide world class Technical Consultancy Services to SCI as well as to our clients and to be a major player in the Indian Offshore industry by providing a safe, efficient and quality service.

Finance

Objectives Statutory compliances Transparency Appropriate disclosure Optimum uitlisation of funds Maximization of returns

Personnel & Administration

Mission To provide the right kind of people and policies to divisions and departments to achieve their business objectives

Fleet:

Fleet Profile
The overall Fleet Position as on 01.07.2012 - 75 Ships

GT

- 3123765.00

DWT - 5531009.10

Particulars

No.

G.T.

DWT

Tanker

Crude Oil

20

1293283

2358122.2

Product

15

558772

952728

Chemical

21035

33058

Gas

35556

35202

VLCC

647232

1274175

Bulk Carriers

11

349246

590697

Liners

186899

255845

Offshore Supply

14

22042

26041.57

Passenger-cum-Cargo

9700

5140

Total

75

3123765

5531009.1

Delivery taken of new vessels during the year:

Vessel Name

Type

Yard Built

Swarna Sindhu

LR1 Product Tanker

STX Shipyard South Korea

Swarna Ganga

LR1 Product Tanker

STX Shipyard South Korea

Swarna Brahmaputra

LR1 Product Tanker

STX Shipyard South Korea

Swarna Godavari

LR1 Product Tanker

STX Shipyard South Korea

Swarna Krishna

LR1 Product Tanker

STX Shipyard South Korea

Swarna Kaveri

LR1 Product Tanker

STX Shipyard South Korea

Swarna Jayanti

LRI1 Product Tanker

Hyundai Heavy Industries Ltd. South

Swarna Kamal

LRI1 Product Tanker

Hyundai Heavy Industries Ltd. South

Desh Mahima

Aframax Crude Oil Tanker

Hyundai Heavy Industries Ltd. South

Desh Garima

Aframax Crude Oil Tanker

Hyundai Heavy Industries Ltd. South

Desh Suraksha

Aframax Crude Oil Tanker

Hyundai Heavy Industries Ltd. South

Desh Samman

Aframax Crude Oil Tanker

Hyundai Heavy Industries Ltd. South

Vessels disposed of during the year:

Vessel Name

Year

Yard Built

Major Hoshiar Singh

Product Tanker

Major Shaitan Singh

Crude Oil Tanker

MT Lance Naik Albert Ekka

Product Tanker

Havildar Abdul Hamid

Crude Oil Tanker

Lance Naik Karam Singh

Crude Oil Tanker

Col Ardeshir Burzor Tarapur

Crude Oil Tanker

Composition

CSR:

Overview
SCI, through its corporate policy and philosophy, has committed itself to social responsibility for the benefit of society at large. SCI formulated its CSR Policy on 19 March 2009 and earmarked 1% of Net Profit of preceding year towards CSR. Subsequently, in March 2010, Department of Public Enterprises (DPE) issued Guidelines on Corporate Social Responsibility for Central Public Sector Enterprises. SCI policy on CSR conforms to these guidelines. To avoid resources from spreading thin, SCIs CSR initiatives target specific areas. These are Education Scholarship Imparting Skill Health Sanitation Relief to Promotion of Art and Culture and and Victims of Family Public Natural to meritorious students belonging Vocational to SC, ST and OBC categories. Training Development Welfare Health Calamities

Keeping in view the expertise in the field of CSR, SCI has signed a Memorandum of Understanding (MOU) with Tata Institute of Social Sciences (TISS), Mumbai, for the preparation, monitoring, and evaluation of CSR initiatives of SCI

Study of behaviour of Economic Parameter Of Shipping Corporation Of India:

Production:
Year 2007-08 2008-09 2009-10 2010-11 2011-12 Production(lakh Tons) 3,543.42 3,726.84 4,166.64 3,463.12 3,543.42

Bar Graph Representing production:

Production(lakh Tons)
4,500.00 4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00

Production(lakh Tons)

Result: Production almost shows similar type of pattern

Profit:

Year 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

Profit(in lakhs)
2462.4 2013.3 1616.1 3825.6 2415.6 2747.8 6269.9 14199.1 10422 10145.8 8139 9406.7 3769.1 5673.5

Line graph presenting profit:

Profit(in lakhs)
16000 14000 12000 10000 8000 6000 4000 2000 0 Profit(in lakhs)

2006-07

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2007-08

2008-09

2009-10

2010-11

Scatter diagram representing profit in a more crystal manner:

Profit(in lakhs)
16000 14000 12000 10000 8000 6000 4000 2000 0 0 5 10 15 Profit(in lakhs)

2011-12

Result: Profit shows non-uniform movements Wages:

Year 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 Wages 60 60 75 117 100 100

Line Graph Representing wages:

Wages
140 120 100 80 60 40 20 0 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 Wages

Result: wages till 2008-09 increases but later that year takes a sharp drop and maintain the same value in the next year

Year 1998-99 1999-00

Investment(lakh)
35598.7 36001.3

2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

33912.5 34831.6 31728.6 34309.7 37682.7 49947.6 57345.2 63444.4 70863 86801.2 90338.6 118832.8

Line graph Representing Investment:

investment(lakhs)
140000 120000 100000 80000 60000 40000 20000 0 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 investment(lakhs)

Result: Investment somehow increases every year

Pie graph Representing investment in a more clear manner:

investment(lakhs)
1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07

Price:
Year
1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Price
24144.5 9289.6 9146.4 10806.8 11724.3 9554.7 13519.4 20492 19347.7 19975.1 25945.7 28362.8 19142.7 13818.4 17096.2

Line graph representing price of the company:

Price
30000 25000 20000 15000 10000 5000 0 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 Price

Result: Price of the company fluctuates up and down throughout the year % increase in productivity:
Year 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 % increase in Productivity
64.18 85.98 74.89 85.19 90.47 58.17 63.72 73.61 58.53 51.4 45.47 54.32 47.26 30.85

Area graph representing % increase In productivity:

% increase in Productivity
100 90 80 70 60 50 40 30 20 10 0 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

% increase in Productivity

Result: productivity shows high jump in the initial years but gets low in last years