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Shipping Corporation of India (SCI) under pressure as the company Q1 earnings disappointed. In an interview to CNBC-TV18, Anoop Kumar Sharma, CMD of the company spoke about the results and his outlook for the company.
In an interview with CNBC-TV18, Anoop Sharma, Chairman and MD of SCI, said the second quarter of this financial year was weak due to the decline in the earnings of the tanker segment. The offshore fleet was also not utilised due to the monsoon adding to the losses in the second quarter.
Revenue came in majorly from the tanker business, AK Gupta, CMD of SCI said adding that Q3 will be on same lines as Q2 if the crude prices and demand remain the same.
AK Gupta, chairman and MD, Shipping Corporation of India (SCI) details his company‘s second numbers. He is positive about the third quarter and says SCI will be able to maintain momentum.
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.