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Mumbai, Feb. 6 SKS Logistics, a major player in coastal shipping, would be entering the offshore sector by converting one of its 9,600 DWT barges into an offshore accommodation vessel.

According to Mr S.K. Shahi, Chairman and Managing Director, the vessel will be suitable for laying pipe and would be able to accommodate 400 people. It would have a helipad and a 200-tonne crane. Currently, the company is using a multipurpose tug in the offshore industry.

In addition, the company would also be acquiring four multipurpose container-cum-cargo vessels to be run on a fixed schedule on the Indian coast. “We are looking to add two of these vessels of 10,000 DWT each with a capacity of 600 containers by the first quarter of next fiscal,” said Mr Shahi.

With reduced operating cost and increase in sales, SKS Logistics has posted a net profit growth of 87 per cent at Rs 1.5 crore for the quarter ended December 31, 2007 against Rs 0.8 crore. The total income of the company grew by 32 per cent at Rs 13 crore (Rs 9.8 crore).

The company’s stock closed on Wednesday with a gain of 4.97 per cent at Rs 42.25.

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