Financial Daily from THE HINDU group of publications
Wednesday, Jun 02, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 02, 2004 |
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Corporate
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Announcements Logistics - Shipping Shasun to stick to urgent export orders due to port strike Our Bureau
Chennai , June 1 SHASUN Chemicals & Drugs has been restricted to meeting just urgent orders on account of the ongoing workers strike at Chennai Container Terminal in the Chennai port. The Rs 277-crore Shasun brings its export products (bulk drugs) from its factories in Pondicherry and Cuddalore to Chennai port in order to catch the feeder vessel to Colombo. In Colombo, the bulk drugs are put aboard a mother vessel headed to other destinations. A company official said following the disruption in Chennai, the goods are sent to Tuticorin in order to catch a vessel bound for Colombo. The alternative route costs Shasun an extra Rs 13,500 for a container. Consequently, the company has stuck to just urgent orders. The delay in export has brought another problem. The official said the company had run out of packing area for finished goods, and needed to locate additional space. Shasun's raw material imports have not been disrupted in the manner of its exports. The company's 45-day inventory cycle has meant that the 10-day disruption in the port has not starved it of raw materials. The official said the company had been temporarily allowed by the Customs department to clear its containers. To clear them, Shasun had to arrange for the crane operators and other people required to handle containers, said the official. He added that the C&F agents helped the company hire some of the skilled manpower needed to clear the containers.
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