INDIAN NEWS & TIMES

Saturday, May 21, 2022

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Shreyas Shipping & Logistics Limited, Mumbai based leading shipping & logistics providers, announced addition of two new services in Coastal Shipping. With this, Shreyas becomes the first company to link all key ports of India for containerised trade. Significantly, India now also has a seamless link connecting eastern & western coasts for containerised Shipping of Cargo

This also marks an inauguration of a new era in domestic surface transport where the cargo can be shipped between any key port within the country. Linking of India’s ports for movement of cargo domestically will also help Vallarpadam terminal, Mundra etc. to be promoted as a transshipment hub. Shreyas now has five vessels focused on providing this nationwide network. The two new services will commence operations from 15th August and connect Mundra-JNPT-Hazira and Kolkata-Vizag-Chennai-Cochin sectors

Elaborating on the impact of a robust east-west corridor, Capt. V. K Singh, CEO of Shreyas said that “efficient transportation infrastructure by sea has tremendous social and economical benefits for the nation. According to the Ministry of Shipping and Transport, the diversion of 5% of cargo transportation to a waterborne mode can result in an annual saving of around Rs. 20 billion and a reduction of 6% of harmful chemicals and pollutants as sea mode effectively reduces emission of CO2 by 29 gm per tonne per km as compared to road transportation

Mr.S._RamakrishnanThe current north-south corridor handles around 3% containerised cargo by sea mode and with the proposed east-west corridor, Shreyas targets to achieve 5% containerized cargo shift to the sea mode”. Capt. Singh also highlighted the fact that sea transport has proved to be safer and more efficient worldwide

Commenting on the occasion, Mr. S. Ramakrishnan, CMD of Shreyas mentioned, “this is a very proud moment for all of us at Shreyas. India has a decent infrastructure for moving cargo in north-south corridor. With these services, we have made our humble contributions in networking all key ports and thus provide cleaner, more viable and more efficient alternative for domestic movement of cargo via the sea-route. This may be considered as an expression of our gratitude in our silver jubilee year” by 29 gm per tonne per km as compared to road transportation. The current north-south corridor handles around 3% containerised  cargo by sea mode and with the proposed east-west corridor, Shreyas targets to achieve 5% containerized cargo shift to the sea mode”. Capt. Singh also highlighted the fact that sea transport has proved to be safer and more efficient worldwide

Shreyas also declared the financial results for the first quarter of the current financial year. During this quarter, the topline has increased by about 30% to Rs. 113.10 crs over the corresponding quarter of the previous yr. Profit after Tax stands at Rs. 2.87 crs