It has shortlisted about 10 consultants, including some international firms, for making a presentation in mid-June. Some of these consultants have already begun their fact-finding exercise for a preliminary understanding of the company's operation and organisational setup.

Speaking to The Financial Express, Sudhir S Rangnekar, director, Shipping Corporation of India, said the aim behind the proposed exercise is to find out if the company can undertake any diversification exercise.

The company plans to review its basic structure through a strength, weakness, opportunity and threat (SWOT) analysis. "We want the selected consultant to chalk out short-, mid- and long-term plans for the company," said Rangnekar.

Under the revamp exercise, the company would be training its staff for a better customer orientation.

SCI would also review its computer andinformation systems for an improved communication network.

The public sector company, which holds 45 per cent of the total shipping tonnage in the country and 75 per cent of the total crude import tonnage, has been recommended by the ministry of surface transport for awarding of mini-ratna status.

It fulfills all the criteria for the status. Among them is consistent profit for three years. SCI achieved a net profit of Rs 246.2 crore on a record turnover of Rs 2,521.5 crore in 1997-98.

It recently signed a memorandum of understanding with Enron and Mitsui OSK Lines for LNG transportation for the Dabhol power project.

Plans JV with Thai company

The Shipping Corporation of India (SCI) is planning a joint venture with Bangkok-based GP Enterprise for operating bulk carriers. The proposal for the joint venture is awaiting approval of the ministry of surface transport.

The joint venture would be based in Singapore and operate bulk carriers in South-East Asia. According to Sudhir S Rangnekar,director, Shipping Corporation of India, the operation is being planned because they see tremendous growth opportunity in the region.

SCI would hold 40 per cent equity stake in the proposed joint venture with GP Enterprises holding the remaining 60 per cent share. Earlier, a subsidiary of the GP group was also to join the joint venture.

The Shipping Corporation has also tied up with Hyundai Merchant Marine, a Korean company, for operating service between Jawaharlal Nehru Port and Singapore.

Among other joint ventures of the public sector company is one for India-Europe container service. The service was initially planned to be operated by SCI and Zim Liner. Now, Taiwan-based Yang Ming Lines has also joined the partnership which would offer weekly service from Nhava Sheva International Container Terminal (NSCIT). SCI also has a feeder service between Calcutta and Colombo in collaboration with Express Container Lines of Singapore.