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BK Mandal, CMD & Dir-Fin, Shipping Corporation of India (SCI) is of the view that though today shipping is facing a downtrend, and even big companies are posting losses, it is a passing phase.
Kotak Securities has come out with its earnings estimates on shipping sector for December quarter FY13. With slowing consumer demand and burgeoning order book, the container market was weak in Q3FY13 and is estimated to remain flattish in near term.
Shipping Corporation of India (SCI) Chairman S Hajara sees an improvement in the tanker segment, however, he says the demand-supply equilibrium is still remains very skewed.
SCI chairman-and-managing director S Hajara explains to CNBC-TV18 various facets of PSU‘s performance including the increase in the net loss to Rs 54.8 crore from Rs 5.9 crore.
In an interview to CNBC-TV18, S Hajra, chairman and managing director of Shipping Corporation says, 2012 is going to be a very difficult year for shipping. "I don’t think the situation will improve till maybe middle of 2013 or thereabout," he adds.
In an interview with CNBC TV-18, S Hajra, CMD of Shipping Corporation of India said that it expects shipping demand-supply equilibrium to pick up from 2012 onwards.