Moneycontrol Bureau
State-run Shipping Corporation of India (SCI) will tread cautiously at a time when the company is sailing in choppy waters.
The company is pressed to make changes in its fleet augmentation programme post announcing net loss of Rs 141 crore during the September quarter. The company has reported losses for the third consecutive quarters.
In an interview to Moneycontrol.com, S Hajara, chairman and managing director of SCI said, "The shipping industry is going through a lean cycle due to sluggish global trade and over supply of fleet." He is not seeing any improvement immediately in terms of global trade. Click on the audio icon to catch Hajara
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