Shipping stocks sail higher as Baltic Dry Index hits 8-month high
The Baltic Dry Index (BDI), a global benchmark that tracks the cost of transporting dry bulk commodities like coal, iron ore, and grains, jumped 9.6% to 1,904, marking its highest level since October 7. The rally in BDI reflects strong activity in global trade routes.
On the back of this, Shipping Corporation of India (SCI) (up 5.16%), Velox Shipping and Logistics (up 5%) and Great Eastern Shipping Company (up 2.63%) surged.
A rising BDI typically boosts earnings potential for shipping companies as it directly translates into higher freight revenues per voyage.
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Mint
6 days ago
- Mint
Top 5 shipping stocks in India to add to your 2025 watchlist
As tensions escalate in the Middle East—particularly around the Strait of Hormuz—Indian shipping stocks have seen a sharp uptick in recent days, driven by expectations of a spike in global freight rates. The market's reaction follows reports of a potential disruption in one of the world's most crucial maritime trade routes. This comes after a US strike on Iranian nuclear sites and Iran's Parliament proposing the closure of the strait in response—though no final decision has been made. The Baltic Dry Index (BDI), which tracks global dry bulk shipping rates, is already showing signs of weakness. It dropped 3.5% on Friday and over 13% in just a week, signalling softer demand. With all eyes on the sector, here are five Indian shipping stocks to watch in 2025 as the geopolitical storm unfolds. Read this | India on track to make Chabahar preferred port of call in Iran for trade with Central Asian nations, says shipping secy These stocks have been selected from Equitymaster's screener for Best Shipping Stocks in India. #1 Mazagon Dock Shipbuilders Mazagon Dock Shipbuilders Limited (MDL), Mumbai, is one of India's leading shipyards. Starting as a small dry dock, MDL has grown into a prominent player in the shipbuilding space. The company specializes in constructing and repairing warships and submarines for the Ministry of Defence, as well as commercial vessels. It is the only Indian shipyard to have built destroyers and conventional submarines for the Navy, among the first to manufacture Veer- and Khukri-class corvettes, and a lead builder of four Nilgiri-class stealth frigates. It is also the only shipyard to have been granted Navratna status. Since 1960, MDL has built a total of 802 ships, including 28 warships—ranging from advanced destroyers to missile boats—and delivered 7 submarines, significantly bolstering India's underwater defence capabilities. In addition to warships and submarines, MDL has also constructed a variety of military support vessels, including cargo ships, supply ships, and multipurpose support vessels. As of FY25, the company's order book stands at ₹380 billion. Looking ahead, Mazagon Dock Shipbuilders plans to invest ₹50 billion over the next 4–5 years to expand its infrastructure, which includes developing a graving dry dock and upgrading its Nhava Yard. In FY26, ₹5 billion will be allocated for capital expenditure, with ₹3.5 billion directed toward completing a floating dry dock. The company aims to maintain a PBT margin of 12–15% for FY26. #2 Cochin Shipyard Cochin Shipyard Limited (CSL), incorporated in 1972, is one of India's most modern and advanced shipyards. It plays a leading role in constructing all kinds of vessels and in carrying out repairs and refits—including periodic upgrades and life extensions. CSL has built and repaired some of the largest ships in India and recently delivered the prestigious Indigenous Aircraft Carrier to the Indian Navy. The company's expertise extends from building bulk carriers to advanced technology-driven ships such as platform supply vessels and anchor handling tug supply vessels, with a strong focus on warships for the Navy. It made history by constructing INS Vikrant, India's first indigenous aircraft carrier and the largest warship ever built in the country. As of September 2024, CSL's order book stood at ₹225 billion, with 70% from the defence sector, 15% from commercial exports, 6% from domestic commercial orders, and 9% from its subsidiaries. The company plans to expand shipbuilding and repair capacity, focus on green technologies, and diversify into new markets like renewable energy. #3 Garden Reach Shipbuilders and Engineers Garden Reach Shipbuilders and Engineers (GRSE) primarily caters to the shipbuilding needs of the Indian Navy and Indian Coast Guard. Its portfolio includes frigates, missile corvettes, anti-submarine warfare corvettes, survey vessels, and offshore patrol vessels, among others. Over the years, GRSE has also delivered various boats, pontoons, and barges. The company operates three shipbuilding facilities in Kolkata. Ship construction takes place at the Main Works Unit and the Rajabagan Dockyard. On 9 June 2025, GRSE signed two memorandums of understanding (MoUs) during an official delegation visit to Sweden and Denmark. One MoU was signed with Berg Propulsion in Sweden—a global leader in the development, manufacture, and supply of marine propulsion systems. Looking ahead, the company expects its order book to cross ₹400 billion by the end of FY26. #4 Shipping Corp. of India Shipping Corp. of India (SCI) is the largest Indian shipping company in terms of capacity, with a diversified fleet profile spanning the transportation of both goods and passengers. The company operates across four key segments: Liner, Bulk, Tanker, and Technical & Offshore services. The Liner segment handles break-bulk and container transport, while the Bulk segment comprises dry bulk carriers. The Tanker segment includes vessels that transport crude oil, petroleum products, and gas. The Technical & Offshore segment encompasses company-owned offshore vessels, those managed on behalf of other organizations, technical consultancy services, as well as passenger and research vessels operated under external mandates. #5 GE Shipping The Great Eastern Shipping Co. (GE Shipping) is India's largest private-sector shipping firm, operating in two main segments: shipping and offshore services. In shipping, GE transports crude oil, petroleum products, gas, and dry bulk commodities. Its offshore operations, managed through its subsidiary Greatship, support oil companies in exploration and production. With a broad client base spanning oil companies, refineries, manufacturers, and miners, GE Shipping is a key player in the maritime sector. Looking ahead, the company has announced a $160 million investment to renew its fleet. Conclusion India is charting a bold course toward becoming self-reliant in the shipping sector. The government is actively encouraging partnerships between Indian firms and major global shipyards. Shipping Minister Sarbananda Sonowal recently stated that the government is focusing on bringing European innovation to India while also inviting major Asian shipbuilders to set up operations in the country. Before making investment decisions, it's essential to conduct thorough research on company financials and corporate governance to ensure alignment with your financial goals and risk appetite. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Time of India
6 days ago
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All 41 depts of Mizoram secretariat use e-office to boost efficiency: Minister
1 2 3 4 Aizawl: Mizoram minister for information, communication & technology Vanlalthlana on Wednesday said all the 41 departments in the state secretariat, including the chief minister's office, are now using e-office that has resulted in official files being moved faster and with fewer hassles Addressing a media conference in Aizawl, Vanlalthlana said 6,492 files have been created under the e-office and the files have moved 63,565 times. He said pending files are almost zero. "The state govt was in favour of introducing e-office and steps were taken in this regard since Jan 2024 and Rs 1.99 crore was received from the department of administrative reforms & public grievance (DARPG), Govt of India under the State Collaborative Initiative Scheme (SCI) on Oct 11, 2024," he said. The minister said the department of personnel and administrative reforms (DP&AR) is the nodal department for implementation of the e-office project while the ICT department is implementing the project. The national informatics centre (NIC) designed the software while deployment and hosting have been taken up by RailTel, he said. The minister also revealed that Mizoram's official websites have been subjected to cyberattacks, especially after the India and Pakistan conflict, requiring upgrade and improvement of the ICT infrastructure in the state. "It was decided that from Ctrl-S Data Centre where we used to host our server, we have been shifting to Google Virtual Private Server (VPS) which is regarded as more secure. Due to this exercise, an office circular was issued on June 12 that different govt websites will not be available for sometime due to server upgrade," he said, adding 23 official websites of different departments have become functional again. He, however, admitted that it will take time to conduct an internal security audit of all 318 official websites under the domain and 14 web applications as well as 12 websites under and
Time of India
22-06-2025
- Time of India
Japanese shipping firm plans to start container services from Mormugao port
Panaji: At least three shipping lines, including the Japanese shipping firm Ocean Network Express (ONE), expressed interest in commencing container movement at Mormugao port after the monsoon. Additionally, Delta Ports, which handles operations at Berth No 10 and 11 of Mormugao port, is in active discussions with Shipping Corporation of India (SCI) to include Goa in the SMILE (SCI-Middle-East-India-Liner-Express) service. ONE's senior management team, led by its managing director Masahiro Sakikubo, undertook a comprehensive terminal tour of Mormugao port on Monday to assess the terminal's container-handling infrastructure. ONE is jointly owned by the Japanese shipping lines Nippon Yusen Kaisha, Mitsui OSK Lines, and K Line. 'This is a major milestone where a global liner has entrusted us and visited Goa for restarting the container services. ONE's management showed keen interest in the ongoing developments at Delta port's Mormugao Terminal Private Limited, particularly regarding the resumption of container services. Our consistent efforts and engagement with stakeholders led to their first-hand visit, offering an encouraging outlook for Goa Port's future,' said an official of Delta Ports. ONE, currently ranked fifth in the global container trade, operates a fleet of over 260 vessels with a capacity exceeding 2 million TEU. MPA chairperson N Vinodkumar assured ONE of the port's full support, along with incentives to facilitate the commencement of container trade. Encouragingly, Unifeeder, another logistics firm, is currently studying the feasibility of including Goa in its container network, engaging with leading shipping lines like CMA CGM, ONE, Maersk, MSC, and HMM to ship container cargo post-monsoon. Port officials said that the inclusion of Mormugao port in the SCI's SMILE network will reduce road transport dependency and support cargo movement for salt, industrial salt, tiles, bentonite, and manufactured goods, benefitting local industries. 'Goa's exporters and importers will soon enjoy seamless global connectivity from their hometown port. "This initiative will particularly empower MSMEs, enabling them to compete confidently in international markets without the burden of high logistics costs,' said an MPA official.
