Shreyas Shipping & Logistics Limited (BSE: 520151), a leading multi-modal, integrated logistics & shipping solutions company has announced its foray into the coastal bulk shipping operations with the deployment of M.V. Unity, Indian flag coastal bulk vessel.
“Shreyas’s entry into the bulk coastal shipping would complement its position as an integrated multi-modal logistics service provider. The coastal route is one-third in terms of operational cost when compared with railways, and one-tenth that of road transport. However, the subsidized road and railways disturbs the feasibility of coastal shipping in India unlike in developed countries where coastal shipping is subsidized vis-a-vis roads and railways. Deploying M.V. Unity into the Indian coastal trade reemphasizes our commitment of improving coastal shipping in India,” said, Mr. S. Ramakrishnan, Chairman & Managing Director, Shreyas Shipping & Logistics Ltd.
Shreyas Shipping & Logistics, is fast transitioning from a pure shipping company to an integrated multi-model logistics player. In a bid to de-risk its business from volatile international freight and charter rates, the company has diversified into domestic logistics. It is aggressively adding capacities and now services both the Indian coasts. It has further set up five warehouses and also has more than 4,000 containers which are used for domestic multi-modal transportation.
The vessel M.V. Unity (GRT 11982 and DWT of 14101) is single decker, self geared, bulk ship strengthened for heavy cargo. Earlier she was deployed under the foreign charter but in view of increasing demand for coastal bulk movement, the company deployed her for coastal bulk trade.
As on date, Shreyas Shipping is handling maximum coastal containers since inception of its coastal container service and has deployed presently three vessels of 1200 TEUs (Twenty Equivalent Units) on coast.
About Shreyas Shipping & Logistics:
Shreyas Shipping & Logistics, a BSE & NSE listed multi-modal logistics and shipping company. Set up in 1994 to own and operate vessels for containers feeder operations between Indian ports and international container trans-shipment ports, it has now diversified into providing logistics, transportation, warehousing, distribution and small parcel services. Shreyas Relay Systems Ltd, a wholly-owned subsidiary, takes care of the landside operations. Shreyas is a part of Transworld Group, which has 25 years of experience in the shipping industry. It is the first Indian private sector container feeder operator and first Indian shipping company to be accorded the ISO 9001 : 2008 certification for container ship and feeder service management. The company currently owns and operates three container vessels and one bulk vessel.
Company now has a fleet of four vessels with size ranging from 600 TEUs to 1200 TEUs. It maintains technically safe-n-sound fleet providing safety of employment to seamen, reduced cost of operations and adheres to corporate governance norms which gives it a competitive advantage.
SSLL has been re-certified by DNV Quality Registrar in accordance with the Standard ISO 9001:2008 and has recently won the award as “Shipping Line of the Year – Costal Operator” at the Maritime And Logistics Awards 2010 organized by Exim India.