BSE Listed, (542753) Seacoast Shipping Services Ltd, a leading company providing one-stop logistics services to exporters and importers, has informed BSE that it is in talks for a joint venture.
Due to the global container shortage crisis, orders for bulk shipments have increased dramatically around the world. Recently, the Joint Venture process initiated by Invade Agro Group, a group based in sub-Saharan Africa. Invade Agro Group is in talks with Seacoast Shipping for the export of bulk goods for the export of fertilizer from India and the import of pulses to India.
Exclusive use of the Port of Mundra is considered a logistics hub for shipments over 12,000 metric tonnes.
The company had recently announced an excellent Q2FY22 which ended in September 2021. The company reported a turnover of Rs 7,201.05 Lakhs compared to Rs. 6,056.45 Lakhs in the previous quarter ended June 30 2021. Net profit jumped to Rs. 587.90 Lakhs for the quarter ended September 30, 2021, from Rs. 309.98 Lakhs in the first quarter of fiscal year 21. Earnings per share climbed to Rs. 1.75 from Rs. 0.92 in previous quarter.
The company has top-notch clientele including Adani Aditya Birla, Welspun, JMC Projects, etc. Regarding the overall growth of the company, management is confident to achieve similar growth in the next quarter of fiscal 2021-22.
Seacoast is one of the three main freight forwarders handling the exports of agricultural export products in containers from the port of Mundra. It offers complete logistics solutions under one roof and also offers international maritime operations of modern bulk carriers. Each year, it transports approximately 5.0 million tonnes of bulk / and unit cargoes across the oceans. As a specialist in one-off activities, SeaCoast focuses entirely on dry bulk logistics and containerized freight transport as well as inland route logistics.
The company offers TOTAL MULTIMODAL LOGISTICS through seamless services from transporting cargo to export. It offers a unique solution for oceanic transport of dry bulk cargoes around the world. With a global container shortage, Sea Coast would get a better achievement, which would derive a substantial benefit.
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