InvestorQ : What is the plan of the government on the privatization of Shipping Corp?
Rutuja Nigam made post

What is the plan of the government on the privatization of Shipping Corp?

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2 months ago
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It now looks like the privatization of Shipping Corporation of India would have to wait for some time. The SCI management and the DIPAM have confirmed that due to the market turbulence triggered by Russia’s invasion of Ukraine, conditions may not really be conducive to the planned privatization of Shipping Corporation of India. SCI is India’s flagship shipping company owned by the government and identified as a candidate for privatization.

The DIPAM is also not too sure about divesting SCI at this time since it would imply getting a lower than expected price for this franchise. The economic sanctions on Moscow are creating a major supply chain bottleneck in oil, food and key minerals. That is largely because the ports on the Black Sea have been embargoed, creating problems for Russian and Ukrainian trade. Scores of ships are already stranded and that is not great news for shipping companies.

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