Seacoast Shipping Services set to resume agreement with Dubai's ... - India Shipping News

Seacoast Shipping Services Limited is set to resume its agreement with Maria Shipping Fze. The deal, originally agreed upon in February 2023, will now take effect from August 15. Seacoast Shipping faced challenges in fulfilling working capital requirements, but launched a rights issue to secure resources. The agreement is expected to lead to mutual benefits, with an additional projected annual revenue of Rs. 100 crore. Seacoast Shipping reported impressive numbers for the first quarter of FY 2023-24, with 65% YoY and 80% QoQ growth in Profit After Tax.

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