New Delhi has publicly stated it is readying privatisation plans for SCI, as well as a host of other state-run entities. On December 22, the Department of Investment and Public Asset Management (DIPAM) invited expressions of interest to privatise SCI by selling the government’s 63.75% stake to a strategic buyer. Potential bidders have until February 13 to file their interest with other bids likely to come in for the 71-year-old shipping line, including from existing private Indian shipowners.
HK Joshi-led SCI runs a fleet of 59 vessels consisting of two container vessels, 18 crude oil tankers, 15 dry bulk carriers, one LPG / ammonia carrier, two multipurpose vessels, eight offshore supply vessels and 13 product tankers.
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