9 Indian Stocks in the Shipping Industry for 2024

The shipping industry is vital for India's economic growth, given its significant role in global trade and transportation. Here are 9 stocks within the shipping industry to consider for your 2024 portfolio.

Note: All data is as of June 2024.

Insights into the Shipping Sector

1. Mazagon Dock Shipbuilders Ltd

Mazagon Dock has been a stalwart in the shipbuilding industry, constructing various types of vessels since 1960, including warships, submarines, and offshore platforms. Constructed 801 vessels since 1960, including warships, submarines, and offshore platforms. Planning a capex of ₹2500 to ₹3000 crores over the next 3-4 years for capacity addition and ship repair facilities. Current order book stands at ₹38,561 Cr.

• Market Cap: ₹84,064 Cr
• Key Highlights:
  • Planning a significant capital expenditure of ₹2500 to ₹3000 crores over the next three to four years.
  • Investing in capacity addition for building larger vessels and enhancing ship repair facilities.
  • Current order book stands at ₹38,561 Cr.

2. Great Eastern Shipping Company Ltd

This company is pivotal in transporting crude oil, petroleum products, gas, and dry bulk commodities. Transports crude oil, petroleum products, gas, and dry bulk commodities. Through its subsidiary, Greatship India Ltd., offers offshore services with a fleet of 43 vessels with a DWT of 3.41 million.

• Market Cap: ₹17,563 Cr
• Key Highlights:
  • Operates 43 vessels with a deadweight tonnage (DWT) of 3.41 million.

3. Knowledge Marine & Engineering Works Ltd

Specializes in owning, chartering, and operating marine crafts alongside maintenance and repair services. Focuses on owning, chartering, and operating marine crafts, along with maintenance and repair services. Successfully entered Bahrain market and maintaining repeat orders from Myanmar, India, and Bahrain. Exploring opportunities in Saudi Arabia. Actively bidding for contracts, planning expansion into another country within two years. Current order book at ₹733 Cr.

• Market Cap: ₹1,563 Cr
• Key Highlights:
  • Successfully entered Bahrain market.
  • Maintaining repeat orders from Myanmar, India, and Bahrain.
  • Exploring new opportunities in Saudi Arabia and planning geographic expansion.
  • Current order book at ₹733 Cr.

4. Shipping Corporation of India Ltd

The company has evolved from a small liner shipping entity with 19 vessels to India's largest shipping corporation. Involved in transporting goods and passengers with a diversified fleet of 59 vessels, including bulk carriers and tankers. Established strategic alliances with Maldives, Andaman & Nicobar Islands, and partnerships with major PSUs. Multiple joint ventures for LNG transport.

• Market Cap: ₹13,212 Cr
• Key Highlights:
  • Strategic alliances and diversified fleet.
  • Partnerships with major PSUs and multiple joint ventures for LNG transport.

5. Cochin Shipyard Ltd

Well-regarded for ship construction, repairs, and upgrades, Cochin Shipyard has an active role in both domestic and international markets. Major player in ship construction, repairs, and upgrades. Contracted with Indian Navy and signed agreements with the US Navy and European clients for shipbuilding projects. Active order book at ₹22,000 Cr.

• Market Cap: ₹61,400 Cr
• Key Highlights:
  • Contracts with Indian Navy and U.S. Navy.
  • European client contract for Hybrid Service Operation Vessel.
  • Current order book at ₹22,000 Cr.

6. Garden Reach Shipbuilders & Engineers Ltd

Catering primarily to the needs of the Indian Navy and Coast Guard, GRSE has accomplished significant exports as well. Recently received orders for an Oceanographic Research Vessel and is enhancing capacity for concurrent construction. Current order book stands at ₹22,652.68 Cr.

• Market Cap: ₹20,996 Cr
• Key Highlights:
  • Received orders for an Oceanographic Research Vessel.
  • Capacity enhancement plans.
  • Order book at ₹22,652.68 Cr.

7. Dredging Corporation of India Ltd

Provides integrated dredging services including capital dredging, land reclamation, and shallow water dredging. Recently awarded a ₹2015.88 Cr contract for maintenance dredging services in Hooghly Estuary. Current order book at ₹1,088.7 Cr.

• Market Cap: ₹3,145 Cr
• Key Highlights:
  • Contract for maintenance dredging in the Hooghly Estuary.
  • Order book at ₹1,088.7 Cr.

8. Shreyas Shipping & Logistics Ltd

Operates container vessels for Indian and international ports, pioneering container feeder services in India. Planned capex of ₹51 crores for shifting to bulk cargo handling and entering air cargo.services, despite execution risks.

• Market Cap: ₹774 Cr
• Key Highlights:
  • Significant capex of ₹51 crores.
  • Entry into air cargo services.

9. SEAMEC Ltd

Owns and operates multi-support vessels for diving and subsea operations. Expanded into main fleet shipping with three bulk carriers. Planned capex of ₹600-700 crores over the next 2-3 years, focusing on improving international operations.

• Market Cap: ₹2,888 Cr
• Key Highlights:
  • Planned capex of ₹600-700 crores.
  • Focus on improving international operations.

These companies play essential roles in the marine industry, offering robust investment opportunities as they expand their capabilities and order books.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice. Please conduct thorough research or consult with a financial advisor before making any investment decisions.