The government has received at least five expressions of interest, including from the The Great Eastern Shipping Company Limited (BSE:500620) and US-based Safesea Group, for the privatisation of state-run carrier The Shipping Corporation of India Limited (BSE:523598). Vedanta Limited (NSEI:VEDL) and a consortium of Foresight Offshore Drilling Limited S.A.- Belgium-listed Exmar NV (ENXTBR:EXM) and Dubai-based shipping company GMS DMCC have filed their EoIs. Megha Engineering & Infrastructures Limited is also understood to have submitted an EoI, official sources said.

The last date for filing expression of interest by potential bidders ended on March 01, 2021. In December 2020, the Department of Investment and Public Asset Management (DIPAM) called expression of interest to privatise Shipping Corporation by selling the government's 63.75 % stake to a strategic buyer. There are concerns within the government that the delay in finalising a consultant for the task could affect the timeline of the transaction, a government official said.

“The process of segregating the non-core assets from the company is running in parallel to the divestment process and is expected to close before the transaction. The cost of this transfer shall be borne by the company (SCI). It is further clarified that in case the divestiture falls beyond the divestment process the long stop date (final date of completion of the de-merger) shall be mentioned in the share purchase agreement,” DIPAM said in response to a query from a potential bidder.