Shreyas Shipping commences services on East coast of India

Shreyas Shipping & Logistics Ltd has announced the commencement of its services on the East coast of India on May 04, 2007.

Set up in 1994, the Company is today an established feeder services and logistics services provider. It has, in addition to the international feeder volumes being carried by it, diversified into the logistics segments. Having consolidated its position in the Indian Container Shipping market and having realized the need to improve the current supply chain system, the Company embarked on designing tailor made logistics and transportation solutions and handling distribution packages for volumes moving from one part of India to another and also to neighboring countries in the SAARC region. These logistic solutions have been instrumental in improving the quality of transpiration and cutting logistics cost. This results in a direct addition to the bottom lines of its clients.

The growth of the logistic services offered by the Company is in keeping with the growing evolution in the transportation business and changing outlook. The shipping business is a strong companion to the logistics activity by filling up the gaps in the supply chain. The Company with its India centric strengthens is set to become a key player in the segment of transportation. This will also help contribute stability in the times of downturn in other business segments.

The Company has leased warehousing facilities at Kandla, Ahmedabad, Cochin and Tuticorin and plans to add similar facilities at other location in Northern and Southern India. The Company has also made investments in brand new containers to cater to the growing market. During the fiscal 06-07, the Company has added three container vessels to its fleet, thereby increasing its tonnage by about 50% as compared to the tonnage as on March 31, 2006.

The Company's wholly owned subsidiary, Shreyas Relay Systems Ltd., take care of the landside operations. The Company has carried about 15% more exim cargo during the fiscal 06-07 and improved its logistics volumes by 85% over last year.

The Company is the first Indian Company to commence a service connecting the West Coast of India to Karachi and continues to be the only Indian Company running services between India and Pakistan. This service has received an overwhelming response from the trade at large.

Having established itself on the North-South leg, the Company now plans to replicate its business model on the Eastern corridor of India, thereby establishing a supply chain right from Kolkatta into Chennai and vice versa. Initiation of freight services on the East Coast of India would offer a low cost alternative route for the cargo via upcoming container terminals. The USP of the Company on this leg would be that the solution offered is a door-to-door solution where the client is assured of safety, reliability, speed and economy. Also, multiple handling of cargo can be avoided leading to zero pilferage, damage and loss to the cargo. The Company is deploying two vessels. "OEL Aishwarya" and 'OEL Independence' on this service presently with 14 days round trip which makes its a weekly service. With this service, the Company will be able to cater to cargoes from West Bengal into Kerala and Tamilnadu and vice versa including servicing the needs of the trade in Orissa and Jharkhand. The Company has procured a fixed berthing window at all ports on this leg. In addition to domestic cargo movement, the Company would also provide feeder services from Chennai. With the increasing number of Main Line operators calling Chennai port, Chennai serves as the Gateway port on the East coast and is suitable for feeder operations.

At a Press conference to announce the commencement of the East coast service, Mr. S Ramakrishnan, Chairman & Managing Director of the Company said, "We have taken a calculated decision to commence a service form the East Coast. Our Market research has shown us that the volumes on this leg are bound to increase. I am certain that co-operation and support form the officials of Kolkatta and Haldia port as also the Director General of Shipping, the Ministry of Shipping and our prestigious clientele, we will attain success in our endeavour."

Source : Equity Bulls

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