MIRA
INFORM REPORT
|
Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
SEAWAYS RHENUS LOGISTICS LIMITED |
|
|
|
|
Registered Office : |
“Seaways Pride”, Plot No. 731, Road No. 36, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Providing Logistic Services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Yet to be Registered |
|
|
|
|
Comments : |
·
As per the Registrar of companies, ·
Subsequent to above no further data or documents
are available from company law Board. ·
During our search through available sources, we
find that company has been in operation sand some clippings are enclosed for
ready references. ·
No financials are available from any sources. ·
In view of the Strong Promoters, the company can
be regarded as normal for business dealings at usual trade terms and
conditions. ·
Management remained non-cooperative during our
investigation. |
LOCATIONS
|
Registered Office : |
“Seaways Pride”, Plot No. 731, Road No. 36, Jubilee Hills, Hyderabad-500033,
|
|
Tel. No.: |
91-40-66447000 |
|
Fax No.: |
91-40-66102040 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Located At : ·
·
Ahmedabad ·
·
Bengaluru ·
·
Bhubaneshwar ·
Chennai ·
Gandhidham/ Kandla ·
·
·
Jaipur ·
·
·
·
Kolkata ·
·
Mangalolre ·
Mumbai ·
Mundra ·
·
·
Paradip ·
Pipavav ·
Pune ·
Tuticorin ·
|
DIRECTORS
|
Name : |
Mr. Captain P V K Mohan |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. P Sarat Kumar |
|
Designation : |
Director, ITD and HR |
|
|
|
|
Name : |
Mr. P Vivek Anand |
|
Designation : |
Director, Marketing and Projects |
|
|
|
|
Name : |
Mr. R Ramesh |
|
Designation : |
Director, Finance and Accounts |
KEY EXECUTIVES
|
Name : |
Mr. Capt.K Vijay Gopal |
|
Designation : |
Chief Executive Officer Seaways Group |
|
|
|
|
Name : |
Mr. Capt. P S Rath |
|
Designation : |
Chief Executive Officer Container Line |
|
|
|
|
Name : |
Mr. Y V Nageshwar Rao |
|
Designation : |
General Manager (Finance) |
|
Tel No. : |
91-40-66447050 |
|
|
|
|
Name : |
Mr. Capt. K Rajasekhar Reddy |
|
Designation : |
General Manager (C and F) |
|
Tel No. : |
91-40-66447080 |
|
|
|
|
Name : |
Mr. D V Krishna Reddy |
|
Designation : |
Dy. General Manager (C and F) |
|
Tel No.: |
91-40-66447040 |
|
|
|
|
Name : |
Mr. T Subramaniam |
|
Designation : |
Dy. General Manager (HR and Administrative( |
|
Tel No. : |
91-40-66447060 |
|
|
|
|
Name : |
Ms. Deepa Jain |
|
Designation : |
Assistant General Manager (Vessel Agency and Breakbulk and FORCE) |
|
Tel No. : |
91-40-66447070 |
|
|
|
|
Name : |
Mr. M V S Krishna Murty |
|
Designation : |
Assistant General Manager (Marketing and International Trade) |
|
Tel No. : |
91-40-66447039 |
|
|
|
|
Name : |
Mr. Hari Subramanian |
|
Designation : |
Assistant General Manager (Liner) |
|
Tel No.: |
91-40-664470990 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic Services |
GENERAL INFORMATION
|
Bankers : |
Not available |
|
|
|
|
Auditors : |
|
|
Name : |
Not Available |
|
|
|
|
Memberships : |
·
Indo-American Chamber of Commerce (IACC) ·
Indo-Italian Chamber of Commerce (IICC) ·
Indo-French Chamber of Commerce (IFCC) ·
Indo-German Chamber of Commerce (IGCC) ·
Federation of Andhra Pradesh Chamber of Commerce and
Industries (FAPCCI) ·
Federation of Indian Chamber of Commerce and
Industries (FICCI) ·
Confederation of Indian Industry (CII) |
|
|
|
|
Group Companies : |
·
Seways Shipping Limited (Group Flagshiip Company) ·
Maxicon Shipping Agencies Private Limited (Freight
Forwarders and Linear Agents) ·
Maxicon Container Line Pte Limited (NVOCC
Operations) ·
·
SeaMaster Shipping and Logistics Private Limited
(Vessel Agents and Linear Agent) ·
Seaways Rhenus Logistics Limited (An Indo-German
Joint Venture Company) ·
Proline Shipping Agencies Private Limited (
Linear Agents) ·
Seaways International (International Trading
Company) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
Not Available |
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not available
LOCAL AGENCY FURTHER INFORMATION
Profile:
Seaways
Group, in its successful sailing of nearly two decades has achieved the distinction
of being one of the leading logistics service providers in
The
company offers not only service to the clients, but a commitment. They ensure
excellence in all the operations by combining skill, knowledge and competence
right from the planning stage to final execution. The combined efforts of the
competent and dedicated team of professionals under the able guidance of Master
Mariners is the hall mark, which have seen the group growing in all spheres of
its business activities.
The
group has a network of 28 strategically located branch offices across the
country and 4 overseas office manned by highly skilled and experience master
marines with decades of sailing experience assisted by maritime professionals,
management and functional experts. The Group's customer focus has led it to a
platform where complete and integrated solutions are provided timely and cost
efficiently, without compromising on the priorities of clients.
They at
seaways continuously redefine the strategies and approaches, to provide
innovative solutions in the changing market scenarios and with focus to provide
seamless and visible solutions to the customers
We at Seaways, offers a broad spectrum of services in the shipping
industry like;
·
Stevedoring
·
Clearing & Forwarding
·
Container Handling
·
Customs House Agency
·
Freight Forwarding
·
Vessel Agency
·
Liner Agency
·
Chartering & Brokerage
·
Air Logistics
·
Feeder Vessel Operations
·
NVOCC Operations
·
Project Cargo Logistics
·
Supply Chain Logistics
·
Warehousing & Distribution
·
Vessel Management & Ownership
·
Port / Terminal Development
·
Marine Surveys & Consultancy
·
Overseas Operations
·
International Trading
·
CFS Operations
·
Offshore Services
Our Services
Seaways operates Feeder Vessels on East Coast of India with its own
Vessels “MV Seaways Valour”, “MV Seaways Venture” and “MV Seaways Prestige”
connecting the Indian East Coast Ports of Chennai, Visakhapatnam, Paradip and
Kolkata with Bangladesh, Myanmar, Singapore & Sri Lanka. Seaways also
operates Feeder Vessel Service on West Coast connecting the ports of Pipavav,
JNPT, Mangalore and
The Liner agency supported by well trained staff is able to provide
efficient port operation, accurate documentation and target conscious market
activity on behalf of represented lines, which are ranked among top ten
shipping lines in the world.
Seaways' is on the panel of “Transchart” (A Govt. of India agency),
which handles all import / export cargo movement for Public Sector
Undertakings. Seaways actively charters ships/cargoes for esteemed clients,
associates in
Seaways International is actively
involved in trading of Steam Coal, Coking Coal, Metallurgical Coke, Cement
& Clinker, and agri products like Rice, Wheat, Sugar etc.
Seaways also undertake and execute turnkey logistics for project cargo
comprising of over-dimensional (ODC) and over-weight cargoes (OWC) mainly in
the oil, power, steel and paper industries/sectors.
Chairman’s Profile
The Chairman and Managing Director, Capt. P V K Mohan is also the Chairman of the National Shipping Board, Ministry of
Shipping, Government of India, which is the highest policy making body for the
Shipping industry. He has been making valuable contributions in shaping the
shipping policies of the country and was instrumental in making recommendations
to bring about amendments in the Merchant Shipping Act.
Chairman of the “High Powered Committee” constituted
by Ministry of Shipping, Government of India, to study and make recommendations
for development of ALL major and non major ports on both East and West Coast of
India.
Director on
Board, Hindustan Ship Yard Limited, under Ministry of Shipping, Government of
President of The International FORCE Group (Freight
Organisation of Related Cargo Experts) registered in the
Focus on Sectors:
·
Automotive
·
Office
·
Chemicals
·
Consumer Goods
·
Industrial Goods
·
Healthcare
Services Offered :
·
International Freight
Forwarding
·
Contact Logistics
·
Warehousing and Inventory
Management
·
Transportation and
Distribution
·
Supply chain Management
·
Web based logistics
·
Hazardous Storage
·
Recycling
·
Reverse Logistics
·
Customer Services/
Support.
Strengths:
·
Global Presence
·
Strong Warehousing and
Distribution network
·
Professional Setup
·
Excellent reach in
respective countries
·
Wide Client base and
Cargo Control
·
High Level dedication and
Commitment
·
Operational and
Commercial expertise.
Seaways Rhenus
Logistics
Seaways Rhenus Logistics Limited is a Joint venture between Seaways
Group of
Both Seaways and Rhenus are undisputed logistics industry leaders in their
regional markets. Both companies offer their partners an in-depth understanding
of the specific market dynamics, government regulations and seasonal and
cultural factors that make their market unique by pooling in their specialist
experience and knowhow.
Seaways and Rhenus have created a logistics service that offers improved
performance, increased flexibility and a greater cost efficiency in the two of
the worlds most lucrative markets i.e. Europe and
Common strengths Seaways – Rhenus
·
Global Presence
·
Professional setup
·
Excellent reach in respective countries
·
Wide client base & Cargo control
·
High level of dedication & commitment
·
Operational & Commercial expertise
Rhenus is one of the top full-service logistics specialists in
A leading player in the competitive European contract logistics
industry, the Rhenus offers one of the most comprehensive networks of logistics
services and intermodal transport networks in
By pooling in their specialist experience and know- how. Seaways and
Rhenus have created a logistics service that offers improved performance,
increased flexibility and a greater cost efficiency in the two of the worlds
most lucrative markets i.e. Europe and
|
Focus on Sectors |
Services offered |
|
Automotive |
International Freight Forwarding |
|
Office |
Contract Logistics |
|
Chemicals |
Warehousing & Inventory Management |
|
Consumer Goods |
Transportation & Distribution |
|
Industrial Goods |
Web based Logistics |
|
Healthcare |
General & Bonded Cargo Storage Cold storage Hazardous Storage Recycling & Value added service |
Management Team
Capt. PVK Mohan,
Chairman & Managing Director
Capt. P V K Mohan, a Master Mariner with 14 Years of Sailing experience
has a Masters Degree and a MBA from RMIT,
Capt. Mohan also holds various positions in public and private sectors
for promoting Shipping, Logistics, Sports and Charitable activities in
Positions under aegis of Ministry of Shipping, Government of India
·
Chairman of the National Shipping Board
·
Chairman “Committee on Containerisation”,
Constituted by Ministry of Shipping, Government of
·
Chairman, “High Powered Committee, for Kolkata
& Haldia Ports”, Constituted by Ministry of
Shipping, Government of
·
Chairman, “High Powered Committee for all Major
ports and Non-Major Ports”, Constituted by Ministry of
Shipping, Government of India
·
Director of Hindustan Ship Yard Limited,
Positions being
held at Overseas Institutions
·
Member of the Nautical Institute,
·
Member of International Maritime Association,
Positions being
held at Associations and Councils in India
·
Member of the Indian Council of Arbitration,
·
Member of the Executive Committee, FICCI, AP Region
Positions being held at
International Associations
·
President of International FORCE Group, England
Positions being held at Sports Federations
·
President of The Billiards & Snooker Federation
of
·
President of The Andhra Pradesh Billiards &
Snooker Association
Others
·
Founder Member, Parvathaneni Foundation (a
Charitable Trust incorporated by Capt. PVK Mohan & Others)
Mr. P. Sarat Kumar, Director - HR &
IT Dept
Mr. P. Sarat Kumar, is B.A (Hons) Graduate from
Mr. P. Vivek Anand, Director - Marketing
P. Vivek Anand, heads the Group Marketing activities and new business
initiatives. He has Bachelors Degree in Hotel Management from
Mr. R. Ramesh, Director - Finance
Mr. R. Ramesh, a post graduate in MBA from the
Achievements
·
Handled more than 2500 vessels for stevedoring and
3500 vessel under vessel agency since inception.
·
Handled 25 ships simultaneously for loading of Rice
at
·
Three train loads of containers sent from
·
100 FEUs were sent to
·
Nine times in the history all the ships along side
the Vizag port, belonged to seaways. Built Bridges,
Roads and Jetty to carry project cargo.
·
Sent a dedicated ship to Paradip with relief
material after the super cyclone and it was the first
ship that reached Paradip along with the Indian Navy
vessel.
·
Traded nearly 1.00 million tons of Metallurgical
Coke from
·
Traded nearly 0.50 million tons of Cement &
Clinker from
·
Discharged one gearless vessel “An Hai” which was
waiting at anchorage for 2 months and no company in
·
Broke the ten year old Monopoly of APL, MAERSK and
Sealand and opened up Vizag market for containers.
·
A ship arrested by two courts was escorted from
·
Opened up
·
Started container service and running it
successfully for last 7 years at
·
Was involved in moving Cattle across the border by
foot and also exported Hyundai and Ford cars by driving
them across the Indo-Bangla border.
·
Loaded a 75 feet long Yacht on a container ship
from Paradip.
·
Loaded a container for M/s. Stemcore, destuffed the
same at
·
Provided complete logistics from procuring Rice to
arranging railway wagons, chartering ships, loading and
coordinating discharging at destination port for STC & MMTC.
·
Was associated with organizing the best ever World
Billiards Championship 2003 in the history of the
Cuesports.
·
Is the only company to discharge scrap at
·
Is the only company to load Rice at anchorage in
Vizag.
·
Handled 75 grams of high value chemical
“Latanoprost” valued at INR 40 Millions by special cargo
charter plane. Since, the process involved special
handling and temperature controlled envirotainer.
·
Entire Plant and Machinery after dismantling was
carried to
·
When all the companies had given up SSL has loaded
4 containers stuffed with Biscuits on German Navy
vessel which was proceeding to
·
For the first time 2500 tons of Urea has been
bagged and stuffed into containers for coastal movement
on East Coast of India. Traditionally fertilizers are transported in bulk world
wide.
·
For the first time in
·
Project shipment comprising of paper making
machinery of 400 TEU's have been moved from Germany to
Rajahmundry, India on door to door basis, this was followed by awarding of two
more such projects involving movement of 1000 TEU and
300 TEUs from Germany to India for Paper industry.
PRESS RELEASE
Seaways Rhenus to
take part in
The Bureau
Mumbai , May 11
SEAWAYS Rhenus, a 50:50 joint venture between the Hyderabad-based
Seaways Shipping Limited and German logistics major, Rhenus, will be putting on
display the recent developments in the Indian logistics sector at the world's
largest logistics trade fair, the three-day `Transport Logistics 2005',
scheduled to begin on May 31 at Munich.
According to Mr Vivek Anand, Director of Seaways, the company will be
the sole Indian participant at the fair. "We plan to host an `India Day'
to generate awareness regarding the true potential of the Indian logistics
sector," he said.
Seaways Rhenus, which is planning to expand its operations in
Seaways has a wide network of 25 branches in
Mr Anand said that the key categories represented in the show include
e-commerce, freight transport, logistics, material flow, passenger transport
and telematics.
The fair will also feature workshops on the latest topics of interest to
the transport industry and issues related to practical applications.
Business in
RHENUS TIES UP
WITH
MUMBAI - Rhenus AG, a subsidiary of
Asia Pulse Pte Limited Each day Asia Pulse creates up to 300 items of
news, business opportunities, expert commentary and industry profiles. Asia
Pulse is a unique joint venture involving the resources of
Seaways Rhenus
begins operations in
The Bureau
Mumbai , Jan. 27
SEAWAYS Rhenus Logistics Limited launched its Indian operations in
Mumbai on Thursday.
It is a 50:50 joint venture between Rhenus AG (a subsidiary of the Euro
2.4-billion German major - the Rethmann Group) and Hyderabad-based Seaways
Shipping.
The launch was followed by a seminar on `Global trends in logistics',
organised by the Indo-German Chamber of Commerce.
The company, which will be providing door-to-door supply chain
management solutions on the India-Europe trade corridor, will be investing Rs
100 crore initially for setting up the necessary infrastructure.
"Subsequently, our investments will depend on the market
opportunities that emerge. We will be targeting the automobile and chemical
sectors, where we see substantial opportunities for third party logistics (3PL)
services," Mr P. Vivek Anand, Director of Seaways Shipping, told
presspersons.
The services that the company is offering include international freight
forwarding, contract logistics, warehousing & inventory management, inter-modal
transportation and distribution, web-based logistics, and bonded cargo storage.
"One new service that we will be introducing in
While Rhenus has such recycling plants in
Mr Ulrich Schorb, Director of the Rhenus Group, said the Indian
logistics market was growing as business houses were increasingly outsourcing
their logistic requirement to 3PL service providers. "Our experience has
shown that business houses could save between 10 per cent and 15 per cent of
their logistics costs by outsourcing," he pointed out.
Indian logistics
market attracting new players
Amit Mitra
Mumbai , Jan. 10
WITH Indian corporate houses increasingly outsourcing their logistics
requirements to specialised operators, the domestic logistics market is
beginning to attract new logistics services providers, particularly foreign
players.
Industry analysts say the time is not far off when corporate houses
would be demanding more non-traditional services that go beyond the usual
inbound/outbound transportation and Customs clearing and forwarding to spill
over to services such as reverse logistics, inventory management, packaging,
labelling and even order processing. This is encouraging both foreign and
Indian players to broaden the syntax of logistics services.
The latest to join the bandwagon of foreign logistics services providers
was Swift, a subsidiary of Swift Freight LLC of UAE, which launched its Indian
operations in Mumbai last week.
Rhenus AG, a subsidiary of the $2.4 billion German Major Rethmann Group,
is also setting up shop in India, by tying up with Hyderabad-based Seaways
Shipping Limited The joint venture, Seaways Rhenus Logistics Limited, will
launch its Indian operations in Mumbai on January 27.
While foreign players like APL Logistics, Panalpina and Maersk Logistics
have been operating in
"We see exciting opportunities in
Each of these players is trying to consolidate their presence in their
own core areas of strengths. For example, Swift will be focussing on logistics
services covering the Indo-African trade, as the company has a strong presence
in the African market. Seaways Rhenus Logistics will similarly be focussing on
the Indo-European trade route, covering sectors such as automotive, healthcare,
chemicals and consumer goods.
A recent study by Transport Corporation of India Limited, a major Indian
player in the logistics market, and the Management Development Institute (MDI)
has shown that the benefits that outsourcing of logistics requirements had
brought to corporate houses range from improvement in delivery schedules and
reduction in operation cost to enhancement of their geographic reach and
improvement in operational flexibility. The study has also shown that less than
55 per cent of the Indian companies subscribe to 3PL (third party logistic)
Services, as compared to over 75 per cent globally, meaning that the market
will be growing at a brisk pace.
Present trends indicate that the cement sector has reaped the maximum
benefits by outsourcing logistics requirements to 3PL service providers,
especially as logistics constitute between 10 and 15 per cent of their
operating costs. Likewise for the automobile and engineering sectors, logistics
account for 5 to 10 per cent of their operations costs, while that for FMCG ranges
between 3 and 7 per cent, as it gets the benefit of volumes, analysts point
out.
The future trend seems to be towards fourth party logistics (4PL)
service providers, which would act as a single interface between the client and
multiple logistics services providers so as to manage all the aspects of the
supply chain.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.74.42 |
|
Euro |
1 |
Rs.67.71 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|