Continuing to search for the top shipping companies in India? Well, worry not because based on market capitalization, services, price range, and other business operations, I have compiled a researched list of the top 10 shipping companies in India.
Shipping has been and continues to be a popular means of moving people and transferring goods from one nation to another through water transportation.
The Indian shipping sector is essential to the nation’s economic development. India’s maritime sector is an essential part that supports India’s economy in several ways.
As per the market analysis reports and statistics, roughly around 90% of trade in India is conducted abroad.
For a better understanding of the top shipping companies in India and India’s shipping industry, let’s just take a good look at the list I have compiled for you based on the current market assessment.
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An Overview Of India’s Shipping Industry 2022
India is a country that relies on fuel imports from other countries to meet and fulfill the daily requirements of energy consumption.
That’s why shipping companies are required to meet and assist the demand for import-export and to support, boost the economy of the nation in innumerable ways.
According to the current statistics collected on the Indian shipping industry, major Indian ports handled around 720.29 million tonnes of cargo traffic in FY22, indicating a CAGR of 2.89% from FY16 to FY22.
The earlier capacity of Indian major ports was recorded at 1,561 million tonnes per year.
How many types of shipping companies are there in India?
There are a variety of shipping companies in India including Bulk Carrier, Container Vessels, and Tanker Vessels. Then there are others such as shipbuilders, off-shore, and so on.
The companies mentioned below are some of the largest and oldest shipping companies in India that have been serving the nation for many years.
The shipping industry and companies in India have performed so well that it’s consistently growing and increasing the market capitalization, revenue, and sales. That is why India’s greatest shipping firms are so successful.
Top 10 shipping companies in India list updated 2022
The Shipping Corporation of India
The shipping corporation of India is one of the oldest and among the top 10 shipping companies in India which was founded in 1961 by the Indian government.
Mr. BK Mandal, the chairman of the Shipping Corporation of India has led the company to establish itself as one of India’s top producers of foreign currency with its remarkable shipping strategies and market approach.
Bulk carriers, tankers, passengers, liners, offshore, break bulk, and chartering are some of the few services that the company offers on domestic as well as international levels. They also oversee vessels that serve both domestic and foreign lines.
The next on the list of the top 10 shipping companies in India is Essar Shipping. As per today’s market assessment, Essar Shipping is considered as the second-largest shipping company in India.
Essar Shipping is also the top competitor of the Shipping Corporation of India and is expected to overtake the company in the coming years.
Mr. Sashi Ruia is the chairman of the company who has played a major role in establishing Essar Shipping as the second-largest shipping company in India.
With an experience of 50+ years in entrepreneurship, the company has made its presence in 8 different countries across the globe, employs more than 7000 employees, and generates annual revenue of more than 13 billion dollars.
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Shreyas Shipping was another one of the oldest and most trusted shipping companies in India that was founded in 1988. The company continues to rule the containership market in India in the maritime domain for the last 33 years.
Regional services, port agency, logistics, feeder, and charter are some of the few services the company offers on the Indian maritime map. With a capacity of around 22,000 TEU, Shreyas Shipping is India’s leading charter ship container provider.
Being one of the key players in the shipping industry of India, the company employs around 4000+ employees and has an annual turnover of around 190 to 200 crores.
Cochin Shipyard Limited
Another one on our list of the top 10 shipping companies in India is Cochin Shipyard Limited. Cochin Shipyard Limited is another government-owned shipping company in India that operates in both the national and international shipping industries.
With its headquarter located in Kochi, India, the company is said to be the largest vessel container production and maintenance facility in the nation.
Dive support & platform supply vessels, tankers, patrol boats, and bulk carriers are some of the few services the company offers to the Indian maritime sector.
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Gujarat Pipavav was incorporated in 1996 by Nikhil Gandhi the founder of Gujarat Pipavav. Gujarat Pipavav is India’s first port to introduce double-stack train services for containers in the Indian shipping industry.
Gujarat Pipavav is also the first Indian port to receive a coastal RoRo vessel and also to have an environmentally friendly coal yard.
The company has established itself as one of the best and leading cargo handling, towage, and logistic support service provider companies in India. Bulk carriers, break bulk, and chartering are some of the few other services that the company offers.
The company has a widespread network that covers more than 50 ports across the globe and has an annual turnover of around 1500 crores.
Vijay Kumar and PC Kapoor are the founders of Bharati Shipyard who founded the company in 1973. During the early stage, the company was involved in the transport of crude oil and ship manufacturing.
The company has now grown to be among the top shipping services providers in India as well as some other foreign countries. The company has a work strength of more than 5500 employees with an annual turnover of around 4600 crores.
Vessel Construction, Defense vessels, Commercial vessels, Rig Construction, Vessel Repair, Rig Repair, Fabrication facility, and Equipment Leasing are some of the services the company offers.
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Global Offshore Services
Global Offshore Services is another one of the top 10 shipping companies in India that was founded in 1976 by the Late Shri Padma Bhushan Dr. B D Garware, founder of the company and have been in service of the shipping industry for the last 6 decades.
The current chairman of the company is Ashok Garware and its headquarter is located in Mumbai, Maharashtra.
Due to its extensive fleet of vessels, the company has established a solid reputation in the Indian shipping industry.
Great Eastern Shipping Company
Great Eastern Shipping Company is another one of the oldest, most experienced, and one of best shipping companies in India. Incorporated in 1948, the company has been running operations for the last 7 decades.
KM Seth is the current head and chairman of the company and as per the market capital, Global Offshore services is a 950 million-dollar company with 43 vessels, 29 tankers, and 14 dry bulk carriers.
Transportation of solid, liquid, and gaseous items, including petroleum products, and products made of crude oil is some of the services the company offers.
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ABG Shipyard was incorporated in 1985 and is among the best shipping companies in India. The company has a wide range of commercial interests and offers a variety of services in the shipping industry.
ABG grew up to be India’s one of the biggest private ship manufacturing companies. Rishi Agarwal, the chairman of the company currently operates the functions of the company with the aim to make ABG Shipyard Asia’s top shipping company.
The company manufactures different varieties of vessels and containers as well as offer shipping services including, charter, tankers, vessel, bulk carriers, and so on. The company employs around 250 employees and has a turnover of around 4900 crores.
The last in our list of the top 10 shipping companies in India is Varun Shipping. Varun Shipping was incorporated in 1971 and its headquarter is located in Mumbai.
There are 20 ships in this company’s fleet, all of which are tanker ships. It is one of India’s leading and fastest-growing shipping companies with an impressive growth rate. LPG carriers and crude oil tankers are the two different categories of ships in which this company operates.
Varun Shipping has a work strength of 250 employees with annual revenue of 1500 crores. Some of the services the company offers are bulk carriers, tankers, passengers, liners, offshore, break bulk and chartering.
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Frequently Asked Questions (FAQs)
Which is the No 1 shipping company in India?
At present Shipping Corporation of India is the largest and number one shipping company in India followed by Essar Shipping, Shreyas Shipping, and so on.
Which company is best for shipping?
Shipping companies such as the Shipping Corporation of India, Essar Shipping, Shreyas Shipping, and Varun Shipping are best for shipping a large number of goods, and for shipping goods on a large scale. On the other hand, for small businesses, shipping companies such as FedEx, UPS, Easy Post, Sendle, and DHL Express are the best choices.
The shipping industry may make a significant contribution to the Indian economy. It has long been a dependable and convenient form of transportation for both people and cargo.
None of the nations are self-sufficient, thus they all solely rely on marine trade to sell and exchange their goods and buy the things they need.
You can use the information given in the article and use the source as a reference in finding and learning more about the top 10 shipping companies in India, the services they offer, and how they are being operated.
For any query related to the topic you can reach out to us using the comment section.