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i-maritime News Service

Shreyas Shipping links all key ports in India for containerized trade - 2014-02-24


The Mumbai-based Shreyas Shipping and Logistics Ltd. has announced two new services in coastal shipping making it the first company to link all key ports of India for containerized trade.

Shreyas now has five vessels providing nationwide network. The two new services to begin operation on August 15 will connect Mundra-JNPT-Hazira and Kolkata-Vizag-Chennai-Kochi sectors. According to Capt V K Singh, CEO of Shreyas, the seamless link connecting eastern and western coasts for containerized shipping of cargo will help Vallarpadam terminal and Mundra, which are promoted as transshipment hubs, besides helping in the domestic cargo movement.

Capt. Singh mentioned that the current north-south corridor handles around 3% containerized cargo by sea mode and with the proposed east-west corridor, Shreyas targets 5% containerized cargo shift to sea mode. The diversion of 5% of cargo transportation to water borne mode can result in an annual saving of Rs 2000 crore and a 6% cut in air pollution as it reduces carbon dioxide emissions by 29 gm per tonne per km compared with road transportation, he added.

Shreyas Shipping, which went public in 1994, clocked 30% rise in turnover at Rs 113.10 crore in the first quarter. The net profit for the period stood at Rs 2.87 crore.

Source: The Economic Times