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COMPANY SPOTLIGHT

ECONSHIP

NAVIGATING INDIA’S CONTAINER-SHIPPING INDUSTRY
TOWARDS A TECH-EMPOWERED FUTURE

Corporate Review | Pooja Kundoo

coastline of about 7,517 km and a stra- its operations to international standards to improve the
tegic location by the world’s busiest efficacy, quality for its customers through innovation
maritime route in the Indian Ocean posi- and all possible tools of modern technology. Econship
tions India as the sixteenth-largest mari- has grown steadily over the years as a premier NVOCC
time country in the world. Ministry of and has been a role model for others in the industry.
Ports, Shipping and Waterways, (earlier Its fleet is mostly brand new containers, with an age
A as Ministry of Shipping) charac- of 3 years, compared to other NVOCC’s 20 years old
known
terizes the fact that around 95% of India’s trading by containers and are maintained to a very high standard
volume and 70% by value is done through its maritime of upkeep. The company has forayed into the vertical of
transport. The healthy outlook is Quite Intriguing. The carrying liquids & chemicals in ISO Tanks.
country’s shipping industry has been flourishing for the
last two decades; however, the competitive status of CHALLENGING THE CONVENTIONAL CONTAINER
the industry seems to be in dire straits and it needs to SHIPPING LINES STEREOTYPES AND INSPIRING THE
be strengthened on the international shipping map. NEXT GENERATION
The shipping line industry in India seems to be left Taking every market, every border as an opportu-
out in the cold! On one hand, the past cycles of peaks nity, Econship through the years has put together all
and troughs, patched recovery from the global finan- required strategies that have helped him to take charge
cial crises has hampered its growth, some of the indus- and make an optimal and effective contribution towards
try’s pain has been self-imposed. The exploitation of developing the shipping industry.
good days leading to an unsustainable rise in demand, Started with 1500 containers, Econship now owns an
increase in unneeded building capacity and the conser- empire of 24000+ containers. Housing large fleets of
vative nature of the industry have made the sector 20 & 40 Dry Vans (DVs), High Cubes (HCs), and Reefer
nothing but complicated. Containers, the company facilitates the carriage of
Change comes slowly to the shipping line industry. most types of containerized cargo, from general cargo
Anything ‘out of the box’ is either not adapted well or to Flexibags in 20’. Besides, supplying a young range of
gets accepted quite lately. Furthermore, most of the quality containers, Econship also deals in providing slot
traditional companies seem uninterested in challenging and space utilization agreements with all the common
the status quo of the industry. Apart from the challenges carriers and shipping lines.
that are inevitable, systematic and beyond control, The target growth rate of 20 per cent in terms of
other issues can be addressed by container lines them- its top line, bottom line and equipment(s) has been well
selves. Container shipping lines need to act first and accomplished by Econship. The management dedi-
several lines have already made significant progress on cates the company’s distinctiveness to its combination
the journey to greater and smart productivity. of owned infrastructure and extensive network reach,
One such smart container shipping line has which allows for high frequency and customized transit
emerged from the Indian shipping space. The secret; by times. The efficient and robust IT system is built to aim
just being quicker and timely updated. Since its begin- unique needs and wants of customers. The technology
ning in the year 2009, Econship has been benchmarking supremacy of the company and its unique bouquet

18| Thecorporatereview.com | India | Vol. 2 | Issue 9 | October 2021