Shahi Shipping Ltd Share Price

History of Shahi Shipping Ltd

Incorporated as Partnership Firm in 1985, Shahi Shipping Ltd, was converted into a private limited company in 1990, and thereafter to a public limited company in Feb.'93. The Company was promoted by Sarvesh Shahi, F M Koli and Rajesh Shahi. The Company operates in the field of transportation of cargo and lighter age operation in the inland water limits of any port of India. The Company owns 13 vessels and are operating with various private and Government bodies. The size of the vessels ranges between DWT 150 tons to DWT 1500 tons. The Company is one of the leading owners of self-propelled mini carriers on the West Coast of India and owns 14 carriers, of which one is a foreign going vessel. The Company acquired and run a dry dock with two carriers of 30,000 dwt each. It acquired newly co ...nstructed and fuel-efficient three mini bulk carriers of 2450 dwt each, which deployed along the coastal regions of India. The company, through their division, Shahi Containers, has entered into a strategic alliance with Handling Systems Company, Malaysia, a leading shipping agency house. Shahi Containers plans to acquire 50,000 containers by the end of the century, and plans to buy two container vessels for carrying containers between India and east Asia. In 1995-96, the company added two more vessels each having a tonnage of 2450 dwt at a cost of Rs 3.39 cr and Rs 3.42 cr respectively. In 1996-97, it acquired M V Royal Yamuna at a cost of Rs 3.33 crores and two more vessels costing Rs 710 lakhs with financial assistance from IDBI; it purchased two new fuel efficient modern vessels M V Vikrant I and M V Vikrant II in May '97 and Aug.'97 costing Rs 325 lakhs which were financed by Industrial Investment Bank of India and it has also obtained loan of Rs 10 crores from State Bank of India for the purchase of two more vessels out of which Yard 51 & Yard 55 are presently under construction. With these acqusitions, the total fleet strength has risen to 27 vessels. The company setup operation of bunkering facilities at Haldia Dock Complex and also plans to acquire all weather sea going pilot launches. During the financial year 2001-02, the Company's operations covered several ports including Mumbai, JNPT, Goa, Jamnagar, Kandla. Kochi and Kolkata. It also extended barge operations between Kolkata and Mongia Port in Bangladesh. The name of the company was changed during May 2004, from Shahi Shipping Ltd to SKS (Ship) Ltd and again from SKS (Ship) Limited to SKS Logistics Limited in 2006-07. Two new Joint Venture companies with Inland Waterways Authority of India were incorporated i.e., Royal Logistics (Ship) Limited and SKS Waterways Limited during 2007-08.