SeaCoast Shipping Initiates JV Process with Africa based company for Bulk Cargo Shipment
New Delhi (India), January 11: BSE listed, ( 542753)Seacoast Shipping Services Ltd, a leading company providing single window logistics services to exporters and importers, has informed BSE that it is in talks for a joint venture.
Due to the Containers Shortage Global crisis, Break-Bulk Shipments Orders has drastically increased Globally. Recently, the Joint Venture process initiated by Invade Agro Group, Sub Saharan Africa based group. Invade Agro Group is in discussions with Seacoast Shipping for Break-Bulk Cargo for Fertilizers Export from India & Import of Pulses to India. Exclusively usage of Mundra Port is being looked at as Logistics Hub for shipments above 12,000 Metric Tons.
The company had recently announced an excellent Q2FY22 that ended September 2021. The company has reported revenue of Rs 7201.05 Lakhs compared toRs. 6056.45 Lakhs in the previous quarter ended June 30, 2021. Net profit surged to Rs. 587.90 Lakhs for the quarter ended September 30, 2021, as against Rs. 309.98 Lakhs in the Q1FY21. The earnings per share shot up to Rs.1.75 from Rs. 0.92 in the Previous Quarter
The company has blue-chip clientele, including Adani Aditya Birla, Welspun, JMC Projects, etc. Looking to the Overall growth of the Company, the management is confident of achieving a similar growth in the coming quarter in FY2021-22.
Seacoast is amongst the top three freight forwarders handling Agri export commodities exports in containers from Mundra port. It offers complete logistics solutions under one roof and also offers International Ship Operations of Modern Dry Bulk Vessels. Every year it carries around 5.0 million mt of bulk /and unitised cargo across the oceans. As a specialist in spot business, SeaCoast focuses fully on dry bulk logistics and Container Freight Forwarding along with Inland Road Logistics.
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. With a worldwide shortage of Containers, Sea Coast would get higher realisation whereby it would be benefitted substantially. The main role is ensuring the safe and efficient Marine transportation of commodities. Ship Chartering Charter Vessel on Time or Period for movement of cargo Worldwide, Coastal Trade, Freight Forwarding End-to-End Service Provider for Container movement, Warehousing and Transportation of FMCG product. Providing end-to-end service in FMCG products, for example, Liquid, Salt, Ceramic etc., within India, Mining and Transportation.