Shreyas Shipping And Logistics Limited
Add to watch list to get report alerts
BSE Code:
520151
NSE Code:
SHREYAS
Business Profile
Business Profile
Shreyas Shipping Ltd (SSL), 1988 as a Private Limited Company and was later converted into a Public Limited Company in 1994. The company was promoted by R. Sivaswamy & family, promoter of the Transworld group of companies.
The company provides container feeder services between Mumbai/ JNPT and United Arab Emirates ports. The company owns a fleet of 7 container vessels. SSL operates its vessels on the Mumbai-Dubai, Mumbai-Singapore, Mumbai-Colombo and Colombo-Chennai routes. SSL had recently started a coastal-feeder service from the Jawaharlal Nehru Port (JNP) to Kandla. The company has also procured government permission to set up a subsidiary in Singapore.
Presently SSL has 6 ships out of which 3 ships are deployed in coastal services and the balance have been chartered out. The Company initially started off with just one vessel on coastal services but with the encouraging results soon deployed 2 other vessels in the coastal services. During the financial year, the company has extended its coastal services to Pipavav, Mangalore, Goa and Cochin.
Recent Developments
Name of Shreyas Shipping Ltd. shall be changed to Shreyas Shipping & Logistics Ltd. and the trading symbol of the company changed from SHREYASHIP to SHREYAS w.f. April 3, 2006.
Shreyas raised US $ 8 million from its GDR (Global Depositary Receipts) issue. Fidelity Investment Management Ltd. is the major subscriber of this issue having subscribed about US $ 7 million worth GDR.
Future Plans
SSL plans to provide coastal feeder service and domestic movements along the coastline. In the long run, the company has planned to get into Coastal business from Chennai port connecting to Haldia, Vizag and Kakinada. The Company is working incessantly towards establishing itself as an absolute coastal player in the industry. During this period the Company also commenced movement of domestic cargo in containers using a combination of road, rail and sea movement.