The Shipping Corporation of India (SCI) is expected to post a profit of around ₹2,000 crore in the current fiscal year, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal has said.
The profit outlook comes as the state-owned shipping company continues to strengthen its operations and benefit from developments in the global maritime sector. SCI is one of India’s largest shipping companies, with operations covering crude oil and petroleum products, bulk cargo, containers and other maritime services.
According to Sonowal, the expected performance reflects the company’s improving financial position and the government’s efforts to strengthen India’s maritime capabilities. A stronger SCI could also contribute to the country’s objective of expanding its domestic shipping capacity and reducing dependence on foreign-flagged vessels for critical cargo movements.
The government has been focusing on increasing India’s shipping capacity and developing a stronger maritime ecosystem as part of its broader efforts to expand the country’s role in global trade. Shipping companies are expected to play an important role in supporting energy security, commodity transportation and international trade.
For SCI, improved profitability could provide greater financial flexibility for fleet renewal, vessel acquisition and operational expansion. Investment in modern and more efficient vessels is also becoming increasingly important as shipping companies face tighter environmental regulations and changing market requirements.
The company’s performance will remain influenced by freight rates, vessel utilisation, fuel costs and conditions across international shipping markets. Demand for energy and other commodities, along with developments in major trade routes, will also affect earnings during the year.
The projected ₹2,000 crore profit marks a significant financial target for SCI and highlights the government’s focus on strengthening the national shipping sector. Continued investment and fleet expansion could further support the company’s role in India’s maritime trade and logistics network.