Maersk will be provided with direct shipping service by Shreyas Shipping, for connecting the US east coast to the Chennai port. It will alongside enable access to the major ports in Europe and Africa.
The new service will enable cargoes originating from the east coast such as Kolkata or Visakhapatnam to be shipped to the Chennai port and connect to Maersks US service, named MECL2. Currently, these cargoes are diverted to the Colombo port as transshipment cargo.
The scrip of Shreyas Shipping closed at Rs 100, down Rs 0.50 or 0.50%. The total volume of shares traded at the BSE was 6,164. (Tuesday)