Shipping Corporation of India (SCI) may withdraw the container liner service that it operates to Europe jointly with four partners. The foreign partners of the state-run SCI have expressed their desire to withdraw the weekly service. The service — Indian Subcontinent Europe service — linked Jawaharlal Nehru Port to European cities such as Barcelona, Rotterdam and Hamburg. SCI’s partners — ZIM Israel, Yang-Ming Lines of Taiwan, MISC of Malaysia and K-Line of Japan — have issued notice to withdraw the service.
Captain Chopra, SCI senior vice-president told ET, “SCI is looking for new partners to continue the service.” However, industry sources said it is difficult to find out shipping companies willing to run an India-Europe liner service in the wake of global slowdown in the commodity market.
Even if the service is scrapped, it will have a minimal impact on SCI topline. SCI runs four global liner services in association with foreign partners. Industry analysts said many shipping liners are withdrawing services following steep fall in freight rates.
Captain Chopra, SCI senior vice-president told ET, “SCI is looking for new partners to continue the service.” However, industry sources said it is difficult to find out shipping companies willing to run an India-Europe liner service in the wake of global slowdown in the commodity market.
Even if the service is scrapped, it will have a minimal impact on SCI topline. SCI runs four global liner services in association with foreign partners. Industry analysts said many shipping liners are withdrawing services following steep fall in freight rates.