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Shahi Shipping Ltd. Company History and Annual Growth Details

YEAR EVENTS
1990 - The Company was Incorporated in the name of "Shahi Shipping and
Transport Pvt. Ltd." on 26th October. It was converted into a
public Ltd., Company and the name changed to Shahi Shipping Ltd.
on 22nd February, 1993. It was promoted by S.K. Shahi and F.M.
Koli. The company is having a diverse range of carriers such as
Ore carriers, water, petroleum carriers and is engaged in
transportation of oil, cargo and fresh potable water.

- The Company's object is to carry on business of shipowners, ship
builders, shipbreakers, shipbrokers, establish maintain and
operate shipping services and to carry on business of common
carriers.

1994 - The Company undertook to expand its fleet capacity by acquiring
3 mini bulk carriers (MBC) of 2350 dead weight tonnes (DWT) each.
These would be built in the shipyard of Sesa Goa Ltd. and would
be deployed in the coastal trade run by the company. M/s. Sesa
Goa Ltd. agreed to take on contract two of the MBCs for a period
of five years and the third MBC would be deployed for the iron
ore export trade. The MBCs are to operate in the Mandovi and
Zuari rivers of Goa.

- 12,69,700 No. of equity shares of Rs.10 each were issued,
subscribed and paid up. 24,18,300 No. of equity shares of Rs.10
each were then issued in May as follows: (A) On firm allotment
basis:

- (i) 9,23,300 shares to promoters, directors

- (ii) 5,00,000 shares to Technology Development and Infrastructure
Company of India Ltd. (TDICI). Balance 9,95,000 shares issued
to the public (all were taken up). Additional 7,300 No. of
equity shares were allotted.

1995 - A Container division was set up and it was reported to have
performed satisfactorily.

1996 - The Company purchased two new fuel-efficient modern vessels
M.V. Vikrant I and M.V. Vikrant II in May and August 1977
respectively. Total fleet of the Company during the year 27
vessels.

- During October-November, the company issued 36,95,300 - zero
interest fully convertible debentures of Rs.20 each for cash at
par on Rights basis in prop. 1 debenture : 1 equity share held.
Of these 1,43,163 debentures remained unissued.

- Each debenture was to be converted into one equity share of Rs.10
at a prem. of Rs.10 per share after 17 months from the date of
allotment of debentures.

1997 - The 500 Ton vessel "Aditi" was structurally altered to carry 1000
tons at a capital cost of Rs.80 lakhs.

- 35,52,137 No. of equity shares of Rs 10 each issued on conversion
of zero interest fully convertible debentures.

1999 - Company plans to enter into coastal movement of liquid as well as
bulk cargo in the coming year as there are strong indications of
coastal movement picking up momentum in the future.

- Rear Admiral G. Rai (Retd.) resigned as Whole-time Director of
the company with effect from 17.3.99.

- The Board appointed Mr. Vijayan N. K. as Joint Managing Director
for a period of three years with effect from 11th May.

2000 - The Mumbai-based Shahi Shipping Ltd will start a feeder service
linking Mumbai and Jawaharlal Nehru ports from July 18.

- The company has received Customs clearance for the service which
will help mainline shipping lines discharge cargoes meant both
for Mumbai and Nhava Sheva at any one of the ports.

- Shahi shipping is the first coastal operator to get an ISO 9002
certification.

- The Company to launch its overseas feeder operations in January, 2001.

2002-D N Singh appointed as Wholetime Director of Shahi Shipping.

2004 - SKS (Ship) Ltd has commenced its reefer container transhipment service from JNPT to Mumbai Port through its feeder vessel, Royal India

2007

-Company name has been changed from SKS Ship Ltd to SKS Logistics Ltd.

2008

- The company board has approved dividend at the rate of 9.5% (Rs 0.95 per share) on equity share of Rs 10/- each for the year ended March 31, 2008.

2011

- The company board has decided to recommended a dividend for the year ended March 31, 2011 at the rate of 5% (Rs. 0.50) on Equity share of Rs. 10/- each.

2012

-SKS Logistics Ltd Mr. B. B. Bhawsar has been appointed as Whole time Director of the Company.

2013

- The name of Company has been changed from SKS Logistics Limited to SHAHI SHIPPING LIMITED.

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