Container Corporation of India

Last updated

Container Corporation of India Limited
Company type Public
Industry Transport
FoundedMarch 1988;36 years ago (1988-03)
Headquarters,
Key people
Sh. Sanjay Swarup
(Chairman & Managing Director)
Products Terminals
Intermodal
RevenueIncrease2.svg9,023 crore (US$1.1 billion) (2024) [1]
Increase2.svg1,638 crore (US$200 million) (2024) [1]
Increase2.svg1,232 crore (US$150 million) (2024) [1]
Total assets Increase2.svg14,038 crore (US$1.7 billion) (2024) [2]
Total equity Increase2.svg11,823 crore (US$1.4 billion) (2024) [2]
Owner Government of India
Number of employees
1,400 (March 2021) [2]
Subsidiaries
  • CONCOR Air Limited
  • Fresh and Healthy Enterprise Limited
  • Punjab Logistics Infrastructure Limited
  • SIDCUL CONCOR Infra Company Limited
Website concorindia.co.in

Container Corporation of India Limited (CONCOR) is an Indian public sector undertaking which is engaged in transportation and handling of containers. Incorporated in March 1988 under the Companies Act, CONCOR commenced operations in November 1989 taking over an existing network of seven inland container depots (ICDs) from Indian Railways. [3]

Contents

History

Indian Railways' strategic initiative to containerise cargo transport put India on the intermodal freight transport map for the first time in 1966. Given India's size (almost 3,000 kilometres (1,900 mi) from North to South and East to West), rail transport is often a cheaper option for all cargo over medium and long distances, especially if the cost of inter-modal transfers can be reduced. Seeing that containerised multi-modal door-to-door transport provided a solution to this problem, in 1966 Indian Railways entered the market for moving door-to-door domestic cargo in special DSO containers.

Although the first ISO container in India had been handled in Kochi as early as 1973, it was not until 1981 that the first ISO container was moved inland by Indian Railways to the country's first ICD at Bengaluru, also managed by the Indian Railways.

Expansion of the network to seven ICDs by 1988 saw an increase in container handling capacity, while along the way a strong view emerged that there was a need to set up a separate pro-active organisation to promote and manage the growth of containerisation in India. [4] [5]

CONCOR is one of the Indian Public Sector Undertakings that is currently under consideration for privatisation. [6] The privatisation process, which involves the Indian Government selling 30.8% out of its shareholding of 54.8%, was initially projected to be completed in the fiscal year 2021–2022, but has since been delayed to the next fiscal year. [6] In April 2022, the Indian Government reduced Indian Railways' land licensing fee from 6% to 3% of the land's market value, which was done to assist the company's privatisation. [7]

Core Business

CONCOR operates three core businesses: cargo carrier; terminal operator, warehouse operator & MMLP operation. [8] [9] [10]

Container shipping

As per CNN-News18 report from 19 November 2024, a roadmap study would be commissioned by Container Corporation of India Limited to one of the leading consulting firms, Ernst & Young, KPMG, or PwC, in order to enter the global container shipping industry. The initial target areas will be the Middle East and South Asia. [11]

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Transport in India consists of transport by land, water and air. Road transport is the primary mode of transport for most Indian citizens, and India's road transport systems are among the most heavily used in the world.

<span class="mw-page-title-main">Containerization</span> Intermodal freight transport system

Containerization is a system of intermodal freight transport using intermodal containers. Containerization, also referred as container stuffing or container loading, is the process of unitization of cargoes in exports. Containerization is the predominant form of unitization of export cargoes today, as opposed to other systems such as the barge system or palletization. The containers have standardized dimensions. They can be loaded and unloaded, stacked, transported efficiently over long distances, and transferred from one mode of transport to another—container ships, rail transport flatcars, and semi-trailer trucks—without being opened. The handling system is mechanized so that all handling is done with cranes and special forklift trucks. All containers are numbered and tracked using computerized systems.

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<span class="mw-page-title-main">Intermodal freight transport</span> Cargo transport using multiple containers

Intermodal freight transport involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation, without any handling of the freight itself when changing modes. The method reduces cargo handling, and so improves security, reduces damage and loss, and allows freight to be transported faster. Reduced costs over road trucking is the key benefit for inter-continental use. This may be offset by reduced timings for road transport over shorter distances.

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<span class="mw-page-title-main">Dry port</span> Inland intermodal terminal connected by road or rail to a seaport

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References

  1. 1 2 3 "Financial Results Data from Moneycontrol Site".
  2. 1 2 3 "Concor Balance Sheet".
  3. Mazumdar, Rakhi (14 December 2017). "CONCOR may launch a container train service between India & Bangladesh". The Economic Times. Retrieved 29 December 2017.
  4. "Container Corporation of India stock rating is Hold; ICICI Securities says US experience offers lessons". The Financial Express. 11 December 2017. Retrieved 29 December 2017.
  5. "Concor inks pact with BMCT for dedicated container trains - Times of India". The Times of India. Retrieved 29 December 2017.
  6. 1 2 PTI (12 October 2021). "Concor strategic sale not happening this fiscal: DIPAM Secy". The Economic Times. Retrieved 7 May 2022.
  7. Asoodani, Karishma (7 April 2022). "Concor disinvestment may progress this month: Sources". Business Today. Retrieved 7 May 2022.
  8. "Concor Registers Significant Turnaround in Business Concor Board Announces Highest Ever Interim Dividend Corporation Records 13.89 Per Cent Increase in its Net Profit in Q3 Investment in Logistic Parks Planned". Press Information Bureau. Ministry of Railways, Government of India. 20 January 2011. Retrieved 26 November 2024.
  9. "Is CONCOR the next big infrastructure bet?". Logistics Outlook. 15 May 2024. Retrieved 26 November 2024.
  10. "CONCOR to set up CFS at Kathuwas MMLP in partnership with private firms". Maritime Gateway. 13 April 2024. Retrieved 26 November 2024.
  11. Sharma, Aman (19 November 2024). "In A First, India Set To Foray Into Global Container Shipping Business | Exclusive". News18. Retrieved 26 November 2024.