Monday, May 20, 2024

Seacoast Shipping Services Ltd. Plans Asset Purchases; In negotiation for purchase of Dry bulk ship

BSE listed Seacoast Shipping Services Ltd. (BSE: 542753), a leading company providing single window logistics services to exporters and importers has recently announced that the Company is planning to purchase assets and is under negotiation for purchase of Dry Bulk ship of 20893 metric tonnes or similar up to 30000 metric tonnes. It is currently planned to be deployed on India Africa trade to focus in Agro cargo which will increase the financials and will change the profile of the company in global markets.

Earlier in January, the Company also announced that Gujarat Port and Logistics Company Limited (GPLCL) being SUP floated by Gujarat Maritime Board and GSFC has accepted proposal proposed by Seacoast Shipping Services Ltd. for developing coastal movement of containers and Bulk cargo from minor ports to major ports via sea route through bogies. 

The above project will be the first move towards Sagar Mala Scheme, by Government of India, Ministry of Shipping to reduce land traffic which to be beneficial to environment and will be high cost effective exim trade and will play major role in economy. The above project will have high revenue income which will increase the turnover above 200 Cr. additionally to the current business and will be in position to deploy 100 employees. 

Moreover SSSL has proposed Joint Venture to GPLCL for long term association which is under procedure for implementing as per policy of Government.

In January the company also announced that it has initiated Joint Venture (JV) Process with Africa based company for the Bulk Cargo Shipment. 

The company offers total multimodal logistics through seam-less services from the transportation of cargo to export. It offers a one-stop solution for the oceanic transport of dry bulk cargoes worldwide.

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