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Vol. LXI No. 27 th THURSDAY 11 FEBRUARY 2021
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Parliament passes landmark Major SCI reported profit of Rs. 103.30 crore in the Third quarter of FY 2020-21 Port Authorities Bill, 2020 The Bill focuses on reorienting the governance model in central ports in line with the successful global practices NEW DELHI: Parliament has passed the Major Port Authorities Bill, 2020. Shri Mansukh Mandaviya, Minister of State (I/C) for Ports, Shipping &Waterways moved the bill in Rajya Sabha and it was passed. Now the Bill will go to the President of India for his assent. With a view to promote the expansion of port infrastructure and Shri Mansukh Mandaviya facilitate trade and commerce, the Major Port Authorities Bill 2020 bill aims at decentralizing decision making and to infuse professionalism in governance of major ports. Cont’d. Pg. 2
A.P. Moller - Maersk delivers strong transformation progress and results in 2020 COPENHAGEN: 2020 has been another year of solid progress for A.P. Moller - Maersk, both in terms of financial performance and in transforming the company. Despite low volumes during most of 2020, profitability grew throughout the first nine months and ended the year with record Q4 results in Logistics and Terminals, while Ocean delivered an exceptional quarter driven by the increased volumes and current, temporary supply chain disruptions. Cont’d. Pg. 6
MUMBAI: The Shipping Corporation of India Limited (SCI) declared its financial results for the third Quarter of FY 2020-21 on 5th February, 2021 and posted a Profit after Tax (PAT) of Rs.103.30 crores and Rs. 551.91 crores for the Quarter ended and Nine Months’ ended 31st December 2020, respectively, as compared to the PAT of the corresponding Quarter and Nine Months period of the previous year FY 2019-20 viz. Rs. 284.50 crores and Rs. 188.60 crores, respectively. SCI achieved the highest Nine Months’ ended profit in a decade. SCI has been posting a profit in excess of Rs.100 crore in each of the past consecutive five Quarters, cumulating to Rs. 950 crores for the last five Quarters together. Liner Segment registered a PBIT of Rs. 49.72 Crores in the current quarter as compared to the loss of Rs. 26.48 crores during the previous quarter in the backdrop of high global freight rates. Cont’d. Pg. 2
HMM reports 16.3% Revenue jump in 2020 SEOUL: HMM has reported a 16.3% jump in revenues to $5.44bn last year, and a record operating profit of $831.1mn last year, versus a loss of $254mn in 2019. HMM said net profit for 2020 was $105mn against a loss of $499.8mn in the previous year. The fourth quarter of 2020 saw HMM’s operating profit more than doubling to $480.5mn, with and operating margin of 28.3%, coinciding with a global surge in volumes and supply chain disruptions caused by a shortage of containers at key export ports in Asia. Cont’d. Back Pg.