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The Union Minister of Shipping, Road Transport and Highways, Thiru T.R. Baalu today received from the Shipping Corporation of India (SCI), a cheque for the Interim Dividend of 40 per cent declared for the year 2004-05. The dividend, amounting to Rs.90,47,68,920/-, reflects the earnings on the 80.12 per cent shareholding of the Government of India in SCI.
The SCI has declared a cumulative profit of Rs. 529 crore for the first six months of the financial year 2004-05. This is the highest ever half-yearly profit for SCI as also for any Indian shipping company. The dividend cheque was handed over to the Minister by the Chairman and Managing Director of SCI, Shri P.K.Srivastava, in the presence of senior officials of the Ministry of Shipping, Road Transport Highways.
SCI is the largest shipping company in India, owning a fleet of 84 vessels of deadweight of 4.42 million tonnes, including 44 tankers, 23 bulk carriers, 10 offshore vessels and 7 liner vessels. In addition, SCI also manages 40 vessels on behalf of ONGC and other Government departments. The SCI is also a model employer and has been recognized as 'The Most Compassionate Employer of Indian Seafarers' and 'The Safest Indian Shipping Company' for the year 2003 on the occasion of National Maritime Day, 2004 and World Maritime Day, 2004 respectively.
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