Acquisition, modernisation pay dividend to shipping companies

Ship acquisition and modernization programmes of Indian shipping companies have paved way for better operating numbers for the top three private shipping companies – Great Eastern Shipping (GE Shipping) Varun Shipping (Varun) and Mercator Lines (MLL) – which declared their financial results for year ended on March 2008 recently.

Overall, their operating revenue grew by 42.6% to Rs 5,663.8 crore as compared to total revenue of Rs 3,971.7 crore in financial year 2007.