Seaways eyes Bangla route for growth

Hyderabad-based maritime services provider Seaways group is all set to post 100 per cent turnover in the current financial year.

Rajat Kumar, general manager, Seaways Shipping Limited, said, "We are expecting a turnover of Rs 400 crore in 2005-06, thereby recording nearly 100 per cent growth over last year's corresponding figure of Rs 200 crore."

The company is also eying a similar growth over the next twelve months.

"The company is expected to touch Rs 600 crore turnover in 2006-07," he said on the sidelines of a seminar organised by the Engineering Export Promotion Council (EEPC).

The group also has other companies including Maxicon Container Lines, Seabird Sea and Air Logistics Pvt Ltd and Seaways International amongst others.

Meanwhile, the company is looking at acquiring another vessel to ply on the Kolkata-Chittagong-Vizag-Chennai route.

The company currently owns one vessel. The deal might be finalised within next few months, said company sources.

"The dedicated service in this route began in June 2005 and currently we are offering 12-15 days fixed service in this route. The container vessel is of capacity of 224 twenty equivalent units (TEU). The voyage time is just around 36 hours, significantly lower than what is required through road through Benapole border," he said.

The additional vessel will enable the company to provide six days fixed service in Kolkata.

The cost was significantly lower as compared to traffic movement through road, he said.

Comparative cost analysis reveals that carrying traffic through the sea route between Kolkata-Chittagong costs around Rs 32,100 whereas equivalent freight carried through truck would be around Rs 47,800, explained Kumar.

In addition, there are documentation hassles at the border, he noted.