Shreyas Shipping and Logistics expects its coastal container volume to grow over 20 per cent in the current year.

The company, which recently started a regular container service linking ports on both the west and east coasts –from Mundra to Kolkata – has deployed an additional vessel to ensure fortnightly-frequency .

The Mumbai-based listed company now also offers direct service from the east and southern ports to West Asia.

“The response to the new service has so far been good and we expect the volume to pick up in the coming days with non-traditional items moving in containers. Besides, we see good growth in the transhipment cargo,” said a company official.

The company has been doing transhipment to Mundra and Hazira.

Container volume at Mundra has gone up with international shipping lines such as MSC starting direct services from the port. Shreyas is the first company to start a regular container service linking ports across the country.

The company, which reported a ₹22.42 crore profit for the quarter ended December 2014, (against a ₹2 crore loss in the year ago period) said the new service has a capacity utilisation of 95 per cent.

Announcing the results, Ramesh Ramakrishnan, Chairman and Managing Director, said the company is in a growth trajectory and is expected to do better in the coming quarters.

The measures the government proposes to come out to support coastal shipping could also help companies like Shreyas.

Huge potential He said the board of directors has recommended an interim dividend of seven per cent. A shipping analyst said Shreyas results indicate the huge potential in coastal shipping.

While most shipping companies have been reporting losses or lower profit in the past few quarters, Shreyas has reported a decent profit.

The company plans to venture into e-commerce, logistic service for liquid cargo and warehousing.

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