Seacoast Ship in good waters

Seacoast Shipping is in the news today morning. From its close of Rs.13.85, it opened today at Rs.14.50, going up further to Rs.15. Its 20% UC of the day stands at Rs.16.60.

The stock is in the news after it received the Gujarat Govt’s approval for the proposed JV.

Major Key highlights of the said proposed are as under:

 1. Devlopment of Kharaba land into CFS in Joint Venture with Gujarat Government so as to facilate export and imports in Morbi/Navlakhi, Vatva or Changodar Area, Palanpur Belt, Kandla and Mundra as there is huge container movement of Imports and Exports where the cargo is moved to port by road.

2. Coastal Connection from Navlakhi and Jamnagar to kandla and Mundra by barge services to reduce the road movement as road movement is 180 KMS. Whereas by sea its just 45 K.Miles and at one go barge can carry upto 70 containers which will reduce the pollution on road and will be more cost effective.

The above project will be the first move towards Sagar Mala Scheme, by Government of India, Ministry of Shipping to reduce land traffic which to be beneficial to environment and will be high cost effective exim trade and will play major role in economy.

The above project will have high revenue income which will increase the turnover above Rs 200 crore additionally to the current business and will be in position to deploy 100 employees.